James M. Chirico - Feb 11, 2022 Form 4 Insider Report for Avaya Holdings Corp. (AVYA)

Role: President & CEO, Director
Signature: /s/ Danielle Bagatta, as attorney in fact for James M. Chirico, Jr.
Stock symbol: AVYA
Transactions as of: Feb 11, 2022
Transactions value $: -$1,767,431
Form type: 4
Date filed: 2/14/2022, 03:09 PM
Previous filing: Dec 9, 2021
Next filing: Feb 16, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVYA	Common Stock, par value $0.01 per share	Options Exercise	$0	+274K	+29.96%	$0.00	1.19M	Feb 11, 2022	Direct	F1
transaction	AVYA	Common Stock, par value $0.01 per share	Tax liability	-$1.77M	-112K	-9.45%	$15.72	1.08M	Feb 11, 2022	Direct
holding	AVYA	Common Stock - Restricted Stock Units						413K	Feb 11, 2022	Direct	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	AVYA	Performance Restricted Stock Units	Options Exercise	$0	-274K	-100%	$0.00^*	0	Feb 11, 2022	Common Stock, par value $0.01 per share	274K		Direct	F3, F4, F5

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

Explanation of Responses:

Id	Content
F1	These shares of common stock, par value $0.01 per share, of Avaya Holdings Corp. ("Common Stock") represent Performance Restricted Stock Units (each, as "PRSU") that have vested as set forth in Table II.
F2	These securities consist of Restricted Stock Units ("RSUs") previously reported on a Form 4 in Table I that have not, as of yet, vested in accordance with their terms. Each RSU represents a contingent right to receive, at vesting, one share of Common Stock.
F3	Each PRSU represents a contingent right to receive, at vesting, one share of Common Stock if the related performance goals are achieved.
F4	These PRSUs were granted on February 11, 2019 pursuant to the Avaya Holdings Corp. 2017 Equity Incentive Plan.
F5	These PRSUs were to be earned if and when the average closing price of one share of Common Stock for 60 consecutive days during the three year period beginning on the grant date equaled or exceeded $23.50, provided that the earned PRSUs would not be settled until the third anniversary of the grant date, subject to satisfaction of the service-based vesting requirements set forth in the award agreement.