SEC Form 4 · accession 0001102541-17-000002
EarthLink Holdings, LLC · ELNK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John T Dobbins
Officer — EVP, Network Ops and Carrier
Period of report
Feb 14, 2017
Accepted (ET)
Feb 16, 2017 · 4:16 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001102541
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 14, 2017 | M | 48,077 | — | A | 57,895 | D | |
| Common StockF2 | Feb 14, 2017 | F | 17,846 | — | D | 40,049 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1 | — | Feb 14, 2017 | A | 48,077 | A | Feb 14, 2017 | Feb 14, 2027 | Common Stock | 48,077 | 281,367 | D |
| Restricted Stock UnitsF1 | — | Feb 14, 2017 | M | 48,077 | D | Feb 14, 2017 | Feb 14, 2027 | Common Stock | 48,077 | 233,290 | D |
Explanation of responses
- F1The Restricted Stock Units were acquired under the Company's 2016 Equity and Cash Incentive Plan and issued pursuant to the 2016 EarthLink Access Management Save-Sharing Executive Bonus Plan. In February 2017, Mr. Dobbins earned a bonus of $275,000 pursuant to the 2016 EarthLink Access Management Save-Sharing Executive Bonus Plan, which was paid 100% in Restricted Stock Units that vested immediately. The vested Restricted Stock Units were converted and distributed to the Reporting Person, without payment, in shares of Common Stock on a unit-for-share basis.
- F2Shares deemed surrendered in payment of tax liability resulting from vesting of Restricted Stock Units.