Zachary Sternberg - Aug 31, 2021 Form 4 Insider Report for GTT Communications, Inc. (GTT)

Signature
ZACH STERNBERG, By: /s/ Thomas Walker (Attorney-in-fact)
Stock symbol
GTT
Transactions as of
Aug 31, 2021
Transactions value $
$0
Form type
4
Date filed
9/2/2021, 07:45 AM
Next filing
Nov 17, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GTT Common Stock Other $0 -12.7K -100% $0.00* 0 Aug 31, 2021 Direct F1
transaction GTT Common Stock Other $0 -15.9M -100% $0.00* 0 Aug 31, 2021 By The Spruce House Partnership LLC F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 31, 2021, the reporting person executed a stock power pursuant to which he irrevocably transferred all shares of the Issuer's common stock over which he had sole voting and dispositive power to the Issuer for no consideration.
F2 On August 31, 2021, The Spruce House Partnership LLC (the "Fund") entered into a Stock Transfer Agreement by and between the Issuer and the Fund. Pursuant to the Stock Transfer Agreement, the Fund, for no consideration, immediately upon the execution thereof, irrevocably transferred, assigned, conveyed and delivered to the Issuer (1) all of its right, title and interest in 1,376,370 shares of the Fund's shares of the Issuer's common stock and (2) any and all economic rights and interests associated with the Fund's remaining 14,498,630 shares of the Issuer's common stock (the "Remaining Shares") but retained its right, title and interest in any voting rights associated with the Remaining Shares.
F3 The reported securities are held in the account of the Fund. The reporting person is a managing member of Spruce House Capital LLC (the "General Partner"), the general partner of the Fund, and Spruce House Investment Management LLC (the "Investment Manager"), the investment manager of the Fund. The reporting person disclaims beneficial ownership of the reported securities held by the Fund, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is, for purposes of Section 16 or for any other purpose, the beneficial owner of such securities.