John P. Stenbit - Nov 19, 2021 Form 4 Insider Report for LORAL SPACE & COMMUNICATIONS INC. (LORL)

Role
Director
Signature
/s/ John P. Stenbit
Stock symbol
LORL
Transactions as of
Nov 19, 2021
Transactions value $
$0
Form type
4
Date filed
11/22/2021, 04:34 PM
Previous filing
Sep 7, 2021
Next filing
Sep 2, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LORL Common Stock Disposed to Issuer -6K -100% 0 Nov 19, 2021 See Footnote 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 LORL Restricted Stock Units Disposed to Issuer -18.5K -100% 0 Nov 19, 2021 Common Stock 18.5K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

John P. Stenbit is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Each share was converted into the right to receive one newly issued Class B variable voting share of Telesat Corporation at the effective time of the Merger (as defined in the Transaction Agreement) pursuant to the Transaction Agreement and Plan of Merger (as amended from time to time and including all exhibits and schedules thereto, the "Transaction Agreement"), dated as of November 23, 2020, as amended on June 24, 2021, by and among Loral Space & Communications Inc., Telesat Corporation, Telesat Canada, Telesat Partnership LP, Telesat CanHold Corporation, Lion Combination Sub Corporation, Public Sector Pension Investment Board and Red Isle Private Investments Inc., subject to the terms and conditions therein.
F2 These shares were owned by a trust for the benefit of Mr. Stenbit's wife of which Mr. Stenbit disclaimed beneficial ownership.
F3 Each restricted stock unit, or RSU, represented a contingent right to receive one share of Common Stock of the Issuer or at the Issuer's election, the cash value thereof.
F4 The RSUs were fully vested prior to the Merger. Each RSU was settled in shares of Issuer Common Stock immediately prior to the Merger that were converted into the right to receive newly issued Class B variable voting shares of Telesat Corporation at the effective time of the Merger pursuant to the Transaction Agreement, subject to the terms and conditions therein.