4//SEC Filing
Young Melissa 4
Accession 0001593968-21-000824
CIK 0001710583other
Filed
Mar 4, 7:00 PM ET
Accepted
Mar 5, 4:37 PM ET
Size
9.5 KB
Accession
0001593968-21-000824
Insider Transaction Report
Form 4
Switch, Inc.SWCH
Young Melissa
Chief Information Officer
Transactions
- Award
Class A Common Stock
2021-03-03+9,332→ 122,061 total - Award
Performance-Based Restricted Stock Units
2021-03-03+6,885→ 6,885 totalFrom: 2024-03-03Exp: 2024-03-03→ Class A Common Stock (6,885 underlying)
Holdings
- 730,296(indirect: By LLC)
Class B Common Stock
Footnotes (5)
- [F1]Represents restricted stock units ("RSUs") granted on March 3, 2021 that convert, on a one-to-one basis, into shares of Class A Common Stock upon vesting. The RSUs will vest over time with 25% of such RSUs vesting on each of March 3, 2022, 2023, 2024, and 2025.
- [F2]Held by an affiliated company of Ms. Young.
- [F3]Each performance-based restricted stock unit ("PRSU") represents a contingent right to receive one share of Class A Common Stock. The indicated number of PRSUs assumes 100% vesting at target. Depending upon actual performance during the Performance Period (as defined below), the actual number of shares issued in settlement of the PRSUs may range from 0% to 200% of the indicated number
- [F4]All PRSUs will vest depending on the Issuer's total shareholder return ("TSR") over the three-year period from the grant date (the "Performance Period"), relative to the TSR of the companies in the Russell 3000 Index as of the grant date (the "Index Group").
- [F5]If the Issuer's TSR over the Performance Period is at the 60th percentile when ranked against the Index Group's TSR, 100% of the target number of shares will vest. For every percentile by which the Issuer's TSR ranking within the Index Group exceeds the 60th percentile, shares vesting will increase by 3 and 1/3%, up to a maximum payout of 200% of target if Issuer's TSR ranking is at the 90th percentile. For every percentile by which the Issuer's TSR ranking within the Index Group is below the 60th percentile and above the 50th percentile, shares vesting will decrease by 1/2%, and for every percentile by which the Issuer's TSR ranking within the Index Group is below the 50th percentile, shares vesting will decrease by 3%, with no payout if Issuer's TSR ranking is below the 20th percentile. If Issuer's absolute TSR over the Performance Period is negative, the number of shares vesting will not exceed 100% of target.
Documents
Issuer
Switch, Inc.
CIK 0001710583
Entity typeother
Related Parties
1- filerCIK 0001805245
Filing Metadata
- Form type
- 4
- Filed
- Mar 4, 7:00 PM ET
- Accepted
- Mar 5, 4:37 PM ET
- Size
- 9.5 KB