SEC Form 4 · accession 0001127602-17-009899
MITEL NETWORKS CORP · MITL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Terence H Matthews
Officer — Chairman of the Board · Director
Period of report
Feb 28, 2017
Accepted (ET)
Mar 2, 2017 · 8:27 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001170534
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF1,F2,F3 | Feb 28, 2017 | S | 50,000 | $6.70 | D | 6,938,590 | I | Wesley Clover International Corporation |
| Common SharesF4 | Feb 28, 2017 | M | 10,000 | $0.00 | A | 41,311 | D | |
| Common SharesF5 | Feb 28, 2017 | S | 4,699 | $6.67 | D | 36,612 | D | |
| Common SharesF6,F2,F3 | Mar 1, 2017 | S | 50,000 | $6.68 | D | 6,888,590 | I | Wesley Clover International Corporation |
| Common SharesF7,F2,F3 | Mar 1, 2017 | S | 150,000 | $6.61 | D | 6,738,590 | I | Wesley Clover International Corporation |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF4,F8 | — | Feb 28, 2017 | M | 10,000 | D | — | — | Common Shares | 10,000 | 0 | D |
Explanation of responses
- F150,000 shares sold on 2017-02-28 were sold at Cdn$8.84 converted to US$6.70 using the noon exchange rate of The Bank of Canada
- F2Dr. Matthews owns 100% of the outstanding voting shares of 4293711 Canada Inc. ("4293711 Canada") which in turn owns 99.9% of the outstanding voting shares of Wesley Clover International Corporation ("WCIC") (the remaining 0.01% of the outstanding voting shares of WCIC are owned by the Matthews Family Trust, of which Dr. Matthews is one of three trustees).
- F3Pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), each of Dr. Matthews and 4293711 Canada may be deemed the beneficial owner of all of the common shares (the "Common Shares") of Mitel Networks Corporation (the "Company") beneficially owned by WCIC. The filing of this Form 4 shall not be construed as an admission that the Reporting Persons share beneficial ownership of these shares, and the Reporting Persons expressly disclaim such beneficial ownership except to the extent of any pecuniary interest therein.
- F4Represents Common Shares received following the vesting of previously granted Restricted Stock Units ("RSUs").
- F5This sale was made to cover taxes immediately following the vesting of previously granted RSUs.
- F650,000 shares sold on 2017-03-01 were sold at Cdn$8.90 converted to US$6.67 using the noon exchange rate of The Bank of Canada
- F7150,000 shares sold on 2017-03-01 were sold at Cdn$8.80 converted to US$6.68 using the noon exchange rate of The Bank of Canada
- F8Represents 10,000 RSUs granted to Dr. Matthews on March 4, 2016. The RSUs vested on February 28, 2017 and Dr. Matthews received 10,000 Common Shares on February 28, 2017.