Fraser Daniel M. 4
4 · GTT Communications, Inc. · Filed Apr 2, 2020
Insider Transaction Report
Form 4
Fraser Daniel M.
Interim Chief Financial Office
Transactions
- Award
Common Stock, par value $.0001 per share
2020-03-06+25,000→ 117,514 total - Award
Common Stock, par value $.0001 per share
2020-03-06+15,000→ 132,514 total
Footnotes (2)
- [F1]Shares of restricted stock granted pursuant to the GTT Communications, Inc. 2018 Stock Option and Incentive Plan and subject to performance vesting. In the event that a closing and funding of the sale of the GTT Infrastructure Division occurs on a date no later than December 31, 2021, the shares will vest in eight equal quarterly installments over a period of two years following such date.
- [F2]Shares of restricted stock granted pursuant to the GTT Communications, Inc. 2018 Stock Option and Incentive Plan and subject to performance vesting. In the event that GTT Communications, Inc. achieves along-term target of 4X "Total Leverage" or better on a quarterly reported basis by December 31, 2023, the shares will vest in four equal quarterly installments over a period of one year, provided that GTT Communications, Inc. maintains at least 4X "Total Leverage" on each such vesting date. "Total Leverage" is defined as (Total Debt less Cash) divided by Annualized Adjusted EBITDA.