SEC Form 4 · accession 0001315255-16-000202
GTT Communications, Inc. · GTT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard Calder
Officer — President and CEO · Director
Period of report
Sep 1, 2016
Accepted (ET)
Sep 6, 2016 · 3:58 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001315255
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $.0001 per share | Sep 1, 2016 | S | 10,000 | $21.23 | D | 1,323,890 | D | |
| Common Stock, par value $.0001 per share | Sep 1, 2016 | M | 1,875 | $20.91 | A | 1,323,890 | D | |
| Common Stock, par value $.0001 per share | Sep 1, 2016 | M | 1,470 | $20.91 | A | 1,323,890 | D | |
| Common Stock, par value $.0001 per share | Sep 1, 2016 | F | 12,726 | $20.91 | D | 1,311,164 | D | |
| Common Stock, par value $.0001 per share | holding | — | — | — | 411,765 | I | By Rick Calder LLC Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Incentive Stock Option (Right to Buy)F3 | $3.30 | Sep 1, 2016 | M | 1,875 | A | — | Apr 4, 2023 | Common Stock, par value $.0001 per share | 1,875 | 0 | D |
| Incentive Stock Option (Right to Buy)F4 | $12.75 | Sep 1, 2016 | M | 1,470 | A | — | Mar 5, 2024 | Common Stock, par value $.0001 per share | 1,470 | 0 | D |
Explanation of responses
- F1Open market sale pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 10, 2015 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.
- F2Transaction code F is for "payment of tax liability by withholding securities incident to the vesting of a security issued in accordance with Rule 16b-3."
- F3The option vests over four years. Twenty-five percent (25%) of the option vests on April 4, 2014, and the remainder vests in equal quarterly installments beginning on July 4, 2014.
- F4(4) The option vests over four years. Twenty-five percent (25%) of the option vests on March 5, 2015, and the remainder vests in equal quarterly installments beginning on June 5, 2015.