SEC Form 4 · accession 0001209191-15-068934
SPRINT Corp · S
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Tarek Robbiati
Officer — Chief Financial Officer
Period of report
Aug 31, 2015
Accepted (ET)
Sep 2, 2015 · 11:52 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000101830
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Aug 31, 2015 | A | 144,578 | $0.00 | A | 144,578 | D | |
| Common StockF3,F2 | Aug 31, 2015 | A | 72,289 | $0.00 | A | 216,867 | D | |
| Common StockF4,F2 | Aug 31, 2015 | A | 520,000 | $0.00 | A | 736,867 | D | |
| Common StockF5,F2,F6 | Aug 31, 2015 | A | 1,250,000 | $0.00 | A | 1,986,867 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F7 | $5.06 | Aug 31, 2015 | A | 300,000 | A | — | Aug 31, 2025 | Common Stock | 300,000 | 300,000 | D |
Explanation of responses
- F1These restricted stock units are subject to performance-based vesting conditions based on the company's actual results compared to financial objectives established under the long-term incentive compensation plan, and vest 100% on May 20, 2018, subject to achievement of the performance-based vesting conditions.
- F2These restricted stock units are issued under Sprint Corporation's 2015 Omnibus Incentive Plan. Each unit represents the right to receive one share of the underlying security at a date in the future.
- F3These restricted stock units vest 100% on May 20, 2018.
- F4These restricted stock units vest 100% on August 31, 2017.
- F5These restricted stock units are subject to achievement of specified Company common stock prices during the period June 1, 2015 through May 31, 2019 (the "Performance Period) and, if achievement is met, vest 50% on August 31, 2019 and 50% on August 31, 2020. Achievement varies from 0% to 120%, and in order to earn 100%, the volume-weighted average price over any consecutive 150-calendar days during the Performance Period must be at least $8.00.
- F6Includes 1,986,867 restricted stock units which are subject to forfeiture until they vest.
- F7Stock options vest 33 1/3% on each of May 20, 2016, May 20, 2017 and May 20, 2018.