WARTELL DAVID 4
4 · IDT CORP · Filed Dec 7, 2022
Insider Transaction Report
Form 4
IDT CORPIDT
WARTELL DAVID
CHIEF TECHNOLOGY OFFICER
Transactions
- Award
Deferred Stcok Units
2022-12-05+7,000→ 7,000 total→ Class B Common Stock (7,000 underlying)
Holdings
- 8,927
Class B Common Stock, par value $.01 per share
Footnotes (2)
- [F1]Consists of 8,927 shares of Class B Common Stock issued upon the vesting of deferred stock units ("DSUs").
- [F2]Represents grant of 7,000 DSUs vesting ratably on 5/17/2023, 2/21/2024 and 2/25/2025, with the recipient having the option on 5/17/2023 and 2/21/2024 to defer vesting to the next scheduled vesting. The number of shares of Class B common stock that will be issued depends on the Market Price on the applicable vesting date as compared to the Grant Price of the DSUs ($25.41), with no less than 0.5 shares (Market Price less than $12.705) and no more than 2 shares (Market Price greater than $50.82), in 12.5% increments, to be issued for each DSU vested. Upon vesting of all of the DSUs, between 3,500 and 14,000 shares of Class B common stock will have been issued. "Market Price" for each vesting date will be the greater of (i)the closing price for the Class B common stock on the trading date immediately prior to such vesting date, and (ii) the average of the closing prices of the Class B common stock for the 20 trading days ending with the trading day immediately prior to such vesting date.