Rob Roy - 28 Feb 2022 Form 4 Insider Report for Switch, Inc.

Reporting relationship: Chief Executive Officer, Director
Issuer ticker: N/A
Reported as of: 28 Feb 2022
Net transaction value: $0
SEC form: 4
Accepted by SEC: 02 Mar 2022, 15:45:01 UTC
Prior SEC filing: 06 Jan 2022
Next SEC filing: 04 Mar 2022
Source filing: View source filing
Reporting owner signature: /s/ Gabriel Nacht, as Attorney-in-Fact for Rob Roy

Key filing fact

Rob Roy filed Form 4 for Switch, Inc. on 02 Mar 2022.

Key facts

This page summarizes Rob Roy's Form 4 filing for Switch, Inc..
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 02 Mar 2022, 15:45.

Change

Previous filing in this sequence was filed on 06 Jan 2022.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SWCH transaction

Class A Common Stock

Award

Transaction value: $0
Shares: +159,492
Change %: +25%
Price: $0.000000
Shares after: 803,561
Date: 28 Feb 2022
Ownership: Direct
Footnotes: F1

SWCH holding

Class B Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 14,726,931
Date: 28 Feb 2022
Ownership: Direct

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

SWCH transaction Derivative

Performance-Based Restricted Stock Units

Award

Transaction value: $0
Shares: +120,185
Change %
Price: $0.000000
Shares after: 120,185
Date: 28 Feb 2022
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 120,185
Exercise price
Footnotes: F2, F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

Represents restricted stock units ("RSUs") granted on February 28, 2022 that convert, on a one-to-one basis, into shares of Class A Common Stock upon vesting. The RSUs will vest over time with 25% of such RSUs vesting on each of February 28, 2023, 2024, 2025 and 2026.

Footnote F2

Each performance-based restricted stock unit ("PRSU") represents a contingent right to receive one share of Class A Common Stock. The indicated number of PRSUs assumes 100% vesting at target. Depending upon actual performance during the Performance Period (as defined below), the actual number of shares issued in settlement of the PRSUs may range from 0% to 200% of the indicated number

Footnote F3

All PRSUs will vest depending on the Issuer's total shareholder return ("TSR") over the three-year period from the grant date (the "Performance Period"), relative to the TSR of the companies in the Russell 3000 Index as of the grant date (the "Index Group").

Footnote F4

If the Issuer's TSR over the Performance Period is at the 60th percentile when ranked against the Index Group's TSR, 100% of the target number of shares will vest. For every percentile by which the Issuer's TSR ranking within the Index Group exceeds the 60th percentile, shares vesting will increase by 3 and 1/3%, up to a maximum payout of 200% of target if Issuer's TSR ranking is at the 90th percentile. For every percentile by which the Issuer's TSR ranking within the Index Group is below the 60th percentile and above the 50th percentile, shares vesting will decrease by 1/2%, and for every percentile by which the Issuer's TSR ranking within the Index Group is below the 50th percentile, shares vesting will decrease by 3%, with no payout if Issuer's TSR ranking is below the 20th percentile. If Issuer's absolute TSR over the Performance Period is negative, the number of shares vesting will not exceed 100% of target.