King Jonathan H 4

Accession 0001593968-22-000596

CIK 0001710583other

View on SEC.gov Company Profile

Filed

Mar 1, 7:00 PM ET

Accepted

Mar 2, 4:46 PM ET

Size

12.1 KB

Accession

0001593968-22-000596

Insider Transaction Report

Form 4

Period: 2022-02-28

Switch, Inc.SWCH

King Jonathan H

Chief Revenue Officer

Transactions

Tax Payment
Class A Common Stock
2022-03-01$26.44/sh−11,339$299,803→ 203,332 total
Award
Performance-Based Restricted Stock Units
2022-02-28+16,652→ 16,652 total
From: 2022-02-28Exp: 2025-02-28→ Class A Common Stock (16,652 underlying)
Award
Class A Common Stock
2022-03-01$26.44/sh+50$1,322→ 214,671 total
Award
Class A Common Stock
2022-02-28+22,098→ 214,621 total

Footnotes (6)

[F1]Represents restricted stock units ("RSUs") granted on February 28, 2022 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 February 28, 2023, 2024, 2025 and 2026.
[F2]Represents shares of Class A Common Stock delivered in settlement of dividend equivalent rights awarded in connection with restricted stock units owned by the Reporting Person (previously reported) that accrue in cash and are settled in shares, proportionately, upon the vesting of the restricted stock units.
[F3]Represents shares withheld to satisfy the Reporting Person's tax withholding obligation upon the vesting of restricted stock units.
[F4]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
[F5]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").
[F6]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

1 file

4
primary_01.xmlPrimary
PRIMARY DOCUMENT

Issuer

Switch, Inc.

CIK 0001710583

→

Entity typeother

Related Parties

filerCIK 0001878498

Filing Metadata

Form type: 4
Filed: Mar 1, 7:00 PM ET
Accepted: Mar 2, 4:46 PM ET
Size: 12.1 KB

View on SEC.gov