Charles Stewart - Dec 23, 2022 Form 4 Insider Report for Altice USA, Inc. (ATUS)

Role: Director
Signature: /s/ Charles Stewart
Stock symbol: ATUS
Transactions as of: Dec 23, 2022
Transactions value $: $0
Form type: 4
Date filed: 1/3/2023, 05:05 PM
Previous filing: Sep 21, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ATUS	Class A common stock	Other		-350K	-26.44%		974K	Dec 23, 2022	Direct	F1, F2, F3

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	ATUS	Variable Prepaid Forward Transaction	Other		-350K	-100%		0	Dec 23, 2022	Class A common stock	350K		Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On December 23, 2022 (the "Settlement Date"), the reporting person settled a Variable Prepaid Forward Transaction (the "Transaction") that was entered into on December 23, 2019 with an unaffiliated bank (the "Bank") relating to 350,000 shares of Class A common stock of the Issuer ("Shares").
F2	The Transaction obligated the reporting person to deliver on the Settlement Date to the Bank a number of Shares determined as follows (or, at the reporting person's election, an equivalent amount in cash): (a) if the closing price per Share on the Settlement Date (the "Settlement Price") is less than $26.85 (the "Floor Price"), 350,000 Shares (the "Number of Shares"); (b) if the Settlement Price is greater than the Floor Price but less than or equal to $33.56 (the "Cap Price"), the Number of Shares multiplied by the Floor Price divided by the Settlement Price; and (c) if the Settlement Price is greater than the Cap Price, the Number of Shares multiplied by (1 - (Cap Price - Floor Price), divided by the Settlement Price).
F3	The reporting person pledged 350,000 Shares (the "Pledged Shares") to the Bank to secure its obligations under the Transaction. On the Settlement Date, the Settlement Price was $4.39. Accordingly, the reporting person transferred to the Bank all of the Pledged Shares.