4//SEC Filing
ASH MENACHEM 4
Accession 0001209191-23-030746
CIK 0001005731other
Filed
May 17, 8:00 PM ET
Accepted
May 18, 5:36 PM ET
Size
11.8 KB
Accession
0001209191-23-030746
Insider Transaction Report
Form 4
IDT CORPIDT
ASH MENACHEM
EVP of Strategic&Legal Affairs
Transactions
- Exercise/Conversion
Class B Common Stock, par value $.01 per share
2023-05-17$32.37/sh+4,168$134,918→ 57,874 total - Tax Payment
Class B Common Stock, par value $.01 per share
2023-05-17$32.37/sh−1,507$48,782→ 56,367 total - Exercise/Conversion
Deferred Stock Units
2023-05-17−3,334→ 6,666 total→ Class B Common Stock (3,334 underlying)
Holdings
- 2,863(indirect: By 401(k))
Class B Common Stock, par value $.01 per share
Footnotes (6)
- [F1]Of the 3,334 deferred stock units ("DSUs") that were eligible to vest on May 17, 2023, the Reporting Person elected to vest all 3,334 DSUs on May 17, 2023 and did not roll any DSUs to the next vesting date of February 1, 2024. Under the terms of the IDT Corporation Equity Growth Program, due to the market price of the Issuer's Class B common stock in the period prior to the May 17, 2023 vesting date, each DSU that vested entitled the Reporting Person to receive 1.25 shares of Class B common stock.
- [F2]Consists of 12,912 shares of Class B common stock issued upon the vesting of DSUs, 28,962 fully vested restricted shares of the Issuer's Class B common stock ("Restricted Stock"), and 16,000 unvested shares of Restricted Stock that will vest, and vest in full, only if the Class B common stock closes above $50 per share for 10 consecutive trading days prior to February 25, 2025.
- [F3]Represents shares withheld by the Issuer for tax purposes upon the vesting of DSUs.
- [F4]Consists of 11,405 shares of Class B common stock issued upon the vesting of DSUs, 28,962 fully vested shares of Restricted Stock, and 16,000 unvested shares of Restricted Stock that will vest, and vest in full, only if the Class B common stock closes above $50 per share for 10 consecutive trading days prior to February 25, 2025.
- [F5]As of April 30, 2023.
- [F6]Represents 10,000 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 5,000 and 20,000 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.
Documents
Issuer
IDT CORP
CIK 0001005731
Entity typeother
Related Parties
1- filerCIK 0001560958
Filing Metadata
- Form type
- 4
- Filed
- May 17, 8:00 PM ET
- Accepted
- May 18, 5:36 PM ET
- Size
- 11.8 KB