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

Role
Director
Signature
/s/ Joseph M. Holsten
Issuer symbol
N/A
Transactions as of
30 Nov 2021
Net transactions value
$0
Form type
4
Filing time
01 Dec 2021, 15:20:48 UTC
Previous filing
17 Jun 2021
Next filing
12 May 2022
SEC
View on sec.gov

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 -130,575 -100% 0 30 Nov 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 -42,073 -100% 0 30 Nov 2021 Common Stock, $.10 par value 42,073 Direct F2
transaction CVA Option to purchase common stock (right to buy) Disposed to Issuer -25,000 -100% 0 30 Nov 2021 Common Stock, $.10 par value 25,000 $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.