James R. Sulat - Aug 16, 2022 Form 4 Insider Report for Mallinckrodt plc (MNKPF)

Role
Director
Signature
/s/ Bryan M. Reasons, Attorney-in-Fact
Stock symbol
MNKPF
Transactions as of
Aug 16, 2022
Transactions value $
$0
Form type
4
Date filed
9/14/2022, 09:16 PM
Previous filing
Jul 6, 2022
Next filing
Jan 5, 2023

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 MNKPF Restricted Stock Units Disposed to Issuer $0 -22.5K -46.17% $0.00 26.3K Aug 16, 2022 Ordinary Shares 22.5K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As previously disclosed, on August 16, 2022, James R. Sulat agreed to relinquish 22,533 of the restricted stock units ("RSUs") which were previously granted to him on July 1, 2022, with relinquishment to be applied ratably across both vesting tranches of such award, to remedy ministerial errors in computation and to correct for the fact that the RSU grant may have as a technical matter exceeded the applicable annual grant maximum amount set forth in the Mallinckrodt Pharmaceuticals 2022 Stock and Incentive Plan (the "MIP"). Mallinckrodt plc ("Mallinckrodt") has agreed that, as soon as reasonably practical following January 1, 2023, Mallinckrodt will grant to Mr. Sulat 26,277 RSUs, subject to his continued service through such date and the MIP grant value limit, which will vest ratably on each of the first two anniversaries of emergence.

Remarks:

This Form 4 constitutes a notice to the Issuer for purposes of Part V of the Companies Act 2014.