COMMUNICATIONS SALES & LEASING, INC. 4
4 · COMMUNICATIONS SALES & LEASING, INC. · Filed Aug 11, 2016
Insider Transaction Report
Form 4
Frey Andrew
Director
Transactions
- Award
Common Stock
2016-08-09+1,628→ 1,628 total - Award
Common Stock
2016-08-09+3,256→ 4,884 total
Footnotes (3)
- [F1]Subject to the reporting person's continued service on the issuer's board of directors, these shares will vest in full on August 9, 2017.
- [F2]The reporting person holds any stock, stock options, restricted stock or stock units or other rights to purchase or receive stock issued to him as compensation for his services as a director of the issuer as a nominee, and for the benefit, of Searchlight II CLS, L.P. (Searchlight). Searchlight may be deemed a "director by deputization" of the issuer by virtue of Searchlight's right to nominate one director to serve on the issuer's board of directors. The reporting person, a partner of Searchlight Capital, L.P., an affiliate of Searchlight, serves as a director of the issuer as a nominee of Searchlight. As a result, Searchlight is deemed to have a pecuniary interest in these shares, and the reporting person hereby disclaims beneficial ownership of all securities, and this report shall not be deemed an admission that he is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
- [F3]Subject to the reporting person's continued service on the issuer's board of directors, these shares vest in four equal installments on August 9 of each year, with the first vesting date being August 9, 2017.