Filing Details

Accession Number:
0001315255-17-000132
Form Type:
4
Zero Holdings:
No
Publication Time:
2017-11-03 10:08:05
Reporting Period:
2017-10-30
Accepted Time:
2017-11-03 10:08:05
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1315255 Gtt Communications Inc. GTT () 4
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1308564 Richard Calder C/O Gtt Communications, Inc.
7900 Tysons One Place, Suite 1450
Mclean VA 22102
President And Ceo Yes Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock, Par Value $.0001 Per Share Disposition 2017-11-01 10,000 $36.33 1,113,679 No 4 S Direct
Common Stock, Par Value $.0001 Per Share Acquisiton 2017-10-30 160,000 $35.35 1,273,679 No 4 A Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Direct
No 4 A Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock, Par Value $.0001 Per Share 495,481 Indirect By Rick Calder LLC Trust
Footnotes
  1. Open market sale pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 11, 2016 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, pursuant to which a maximum of 120,000 shares were made available for sale.
  2. The Performance grant of 160,000 shares consists of four different financial targets: (1) 40,000 shares will begin vesting once the Company achieves $1.5 billion in annualized revenue (2) 40,000 shares will begin vesting upon achievement of $2 billion in annualized revenue (3) 40,000 shares will begin vesting upon achievement of $400 million in annualized Adjusted EBITDA and (4) 40,000 shares will begin vesting upon achievement of $550 million in annualized Adjusted EBITDA. Upon achievement of financial target (1) and (3) the applicable shares will vest quarterly (in equal amounts) over a 2 year period. Upon achievement of financial target (2) and (4) the applicable shares will vest quarterly (in equal amounts) over a 1 year period. For any performance metrics not achieved by the end of 2021, those specific performance grant portions will expire and those shares are forfeited; time vesting after achieving performance metrics may extend beyond the end of 2021.