Form 4 for OPTU Optimum Communications, Inc.
Accepted 2023-01-03 00:00:00 ET · period of report 2022-12-23 · accession 0000947871-23-000004 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-01-03 | 2022-12-23 | OPTU | Stewart Charles | Dir | J - Other | — | -350.0K | 973.9K | -26% | — |
| D | 2023-01-03 | 2022-12-23 | OPTU | Stewart Charles | Dir | J - Other | — | -350.0K | 0 | -100% | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A common stock | 2022-12-23 | J | D | 350,000 | — | 973,925 | D | — | — | (F1) On December 23, 2022 (the "Settlement Date"), the reporting person settled a Variable Prepaid Forward Transaction (the "Transaction") that was entered into on December 23, 2019 with an unaffiliated bank (the "Bank") relating to 350,000 shares of Class A common stock of the Issuer ("Shares"). (F2) The Transaction obligated the reporting person to deliver on the Settlement Date to the Bank a number of Shares determined as follows (or, at the reporting person's election, an equivalent amount in cash): (a) if the closing price per Share on the Settlement Date (the "Settlement Price") is less than $26.85 (the "Floor Price"), 350,000 Shares (the "Number of Shares"); (b) if the Settlement Price is greater than the Floor Price but less than or equal to $33.56 (the "Cap Price"), the Number of Shares multiplied by the Floor Price divided by the Settlement Price; and (c) if the Settlement Price is greater than the Cap Price, the Number of Shares multiplied by (1 - (Cap Price - Floor Price), divided by the Settlement Price). (F3) The reporting person pledged 350,000 Shares (the "Pledged Shares") to the Bank to secure its obligations under the Transaction. On the Settlement Date, the Settlement Price was $4.39. Accordingly, the reporting person transferred to the Bank all of the Pledged Shares. |
| 2 | Derivative | Variable Prepaid Forward Transaction | 2022-12-23 | J | D | 350,000 | — | 0 | D | — · — to — | 350,000 Class A common stock | (F1) On December 23, 2022 (the "Settlement Date"), the reporting person settled a Variable Prepaid Forward Transaction (the "Transaction") that was entered into on December 23, 2019 with an unaffiliated bank (the "Bank") relating to 350,000 shares of Class A common stock of the Issuer ("Shares"). (F2) The Transaction obligated the reporting person to deliver on the Settlement Date to the Bank a number of Shares determined as follows (or, at the reporting person's election, an equivalent amount in cash): (a) if the closing price per Share on the Settlement Date (the "Settlement Price") is less than $26.85 (the "Floor Price"), 350,000 Shares (the "Number of Shares"); (b) if the Settlement Price is greater than the Floor Price but less than or equal to $33.56 (the "Cap Price"), the Number of Shares multiplied by the Floor Price divided by the Settlement Price; and (c) if the Settlement Price is greater than the Cap Price, the Number of Shares multiplied by (1 - (Cap Price - Floor Price), divided by the Settlement Price). (F3) The reporting person pledged 350,000 Shares (the "Pledged Shares") to the Bank to secure its obligations under the Transaction. On the Settlement Date, the Settlement Price was $4.39. Accordingly, the reporting person transferred to the Bank all of the Pledged Shares. |