Next Alt S.a.r.l. - Feb 3, 2023 Form 4 Insider Report for Altice USA, Inc. (ATUS)

Signature
Next Alt S.a r.l. By: /s/ Patrick Drahi and Laurent Godineau, managers
Stock symbol
ATUS
Transactions as of
Feb 3, 2023
Transactions value $
$0
Form type
4
Date filed
2/7/2023, 10:25 AM
Previous filing
Nov 3, 2022
Next filing
Oct 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ATUS Class A common stock Disposed to Issuer -97.8K -0.29% 33.3M Feb 3, 2023 Direct F1, F2
holding ATUS Class A common stock 6.34M Feb 3, 2023 Uppernext S.C.S.p 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
holding ATUS Stock Option (right to buy) Class A common stock 709K Feb 3, 2023 Class A common stock 709K $17.50 Uppernext S.C.S.p F1, F3
holding ATUS Stock Option (right to buy) Class A common stock 2.16M Feb 3, 2023 Class A common stock 2.16M $28.36 Uppernext S.C.S.p F1, F4
holding ATUS Performance Stock Units 187K Feb 3, 2023 Class A common stock 187K Uppernext S.C.S.p F1, F5, F6, F7
holding ATUS Performance Stock Units 456K Feb 3, 2023 Class A common stock 456K Uppernext S.C.S.p F1, F5, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Next Alt S.a r.l. ("Next Alt") is an indirect wholly-owned and controlled personal holding company of Patrick Drahi. Uppernext S.C.S.p ("Uppernext") is a wholly-owned and controlled personal holding company of Patrick Drahi. Mr. Drahi may be deemed to beneficially own shares of the Issuer held by Next Alt and Uppernext. Mr. Drahi is a director of the Issuer. Next Alt is a party to a stockholders agreement with the Issuer pursuant to which Next Alt has certain rights to appoint directors of the Issuer. Each Reporting Person disclaims beneficial ownership of all interests reported on this Form 4 except to the extent of such Reporting Person's pecuniary interests.
F2 On February 3, 2023, Next Alt transferred 97,812 shares of the Issuer's Class A common stock to the Issuer pursuant to a settlement agreement terminating litigation in Patel v. Drahi, et al., C.A. No. 2020-0499-PAF (Del. Ch.).
F3 These stock options were granted under the Altice USA Long Term Incentive Plan and vested on December 19, 2021.
F4 These stock options were granted under the Amended and Restated Altice USA 2017 Long Term Incentive Plan (the "Plan"). 50% vested on December 27, 2021, 25% vested on December 27, 2022 and 25% are scheduled to vest on December 27, 2023.
F5 Each performance stock unit ("PSU") represents a contingent right to receive one share of Class A common stock of the Issuer.
F6 The PSUs were granted under the Plan and vest on the day following the date on which the 30-day volume weighted average market price of the Issuer's Class A common stock equals or exceeds $50 per share.
F7 The PSUs will be forfeited if the applicable performance measure is not achieved prior to January 29, 2026 or if the Reporting Person does not continue to provide services to the Issuer through the achievement date of the applicable performance measure.
F8 The PSUs were granted under the Plan and vest on the day following the date on which the 30-day volume weighted average market price of the Issuer's Class A common stock equals or exceeds $60 per share.