Michael Olsen - Mar 1, 2023 Form 4 Insider Report for Altice USA, Inc. (ATUS)

Role
EVP, Gen. Counsel & Secy
Signature
/s/ Michael Olsen
Stock symbol
ATUS
Transactions as of
Mar 1, 2023
Transactions value $
$0
Form type
4
Date filed
3/3/2023, 03:32 PM
Previous filing
Jan 3, 2023
Next filing
Mar 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ATUS Class A common stock Award +183K +86.45% 394K Mar 1, 2023 Direct F1, F2

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 Stock Option (Right to Buy) Disposed to Issuer -552K -100% 0 Mar 1, 2023 Class A common stock 552K $15.78 Direct F2, F3
transaction ATUS Stock Option (Right to Buy) Disposed to Issuer -37K -100% 0 Mar 1, 2023 Class A common stock 37K $17.57 Direct F2, F4
transaction ATUS Stock Option (Right to Buy) Disposed to Issuer -600K -100% 0 Mar 1, 2023 Class A common stock 600K $28.36 Direct F2, F5
transaction ATUS Stock Option (Right to Buy) Disposed to Issuer -88.8K -100% 0 Mar 1, 2023 Class A common stock 88.8K $22.51 Direct F2, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted share units ("RSUs") granted pursuant to the Amended and Restated Altice USA 2017 Long Term Incentive Plan, as amended (the "Plan"). Each RSU represents a contingent right to receive one share of the Issuer's Class A common stock. The RSUs vest in equal installments on each of March 1, 2024 and 2025.
F2 On March 1, 2023, the Issuer cancelled, pursuant to the Issuer's stock option exchange program, (i) stock options to purchase 552,373 shares of the Issuer's Class A common stock granted to the Reporting Person on December 29, 2021, (ii) stock options to purchase 36,987 shares of the Issuer's Class A common stock granted to the Reporting Person on June 27, 2018, (iii) stock options to purchase 600,000 shares of the Issuer's Class A common stock granted to the Reporting Person on January 29, 2020 and (iv) stock options to purchase 88,836 shares of the Issuer's Class A common stock granted to the Reporting Person on April 24, 2019. In exchange for the cancelled stock options, the Reporting Person received 182,597 RSUs and $1,826,004 of deferred cash denominated awards ("DCAs"). The RSUs and DCAs will vest in equal installments on each of March 1, 2024 and 2025, subject to the Reporting Person's continued employment with the Issuer on the vesting date.
F3 These stock options provided for vesting in equal installments on each of December 29, 2022, 2023 and 2024.
F4 These stock options vested on June 27, 2021.
F5 These stock options provided for vesting 50% on December 27, 2021, 25% on December 27, 2022 and 25% on December 27, 2023.
F6 These stock options vested on April 24, 2022.