Joseph M. Holsten - Nov 30, 2021 Form 4 Insider Report for COVANTA HOLDING CORP (CVA)

Role
Director
Signature
/s/ Joseph M. Holsten
Stock symbol
CVA
Transactions as of
Nov 30, 2021
Transactions value $
$0
Form type
4
Date filed
12/1/2021, 03:20 PM
Previous filing
Jun 17, 2021
Next filing
May 12, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVA Common Stock, $.10 par value Disposed to Issuer -131K -100% 0 Nov 30, 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CVA Restricted Stock Units Disposed to Issuer -42.1K -100% 0 Nov 30, 2021 Common Stock, $.10 par value 42.1K Direct F2
transaction CVA Option to purchase common stock (right to buy) Disposed to Issuer -25K -100% 0 Nov 30, 2021 Common Stock, $.10 par value 25K $20.58 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Joseph M. Holsten is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Pursuant to the merger agreement between EQT Infrastructure and the Issuer, effective as of the date of the merger these shares of the Issuer's common stock were canceled and converted into the right to receive $20.25 in cash per share (the "Merger Consideration").
F2 The restricted stock units were canceled in the merger and converted into the right to receive a cash payment equal to the product of (i) the total number of shares of the Issuer's common stock underlying the restricted stock units multiplied by (ii) the Merger Consideration.
F3 50% of the options vested on the grant date of July 8, 2014 and 50% of the options vested on the first anniversary of the grant date. The options could not be exercised before January 8, 2015.
F4 Pursuant to the Merger Agreement, these outstanding vested stock options were cancelled without any payment to the reporting person, since the exercise price was greater than the Merger Consideration.