SEC Form 4 · accession 0001593968-18-001470
Switch, Inc. · SWCH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Donald D Snyder
Director
Period of report
Nov 19, 2018
Accepted (ET)
Nov 20, 2018 · 7:49 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001710583
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class B Common StockF1 | Nov 19, 2018 | J | 450,000 | — | D | 809,470 | D | |
| Class A Common StockF2 | Nov 19, 2018 | C | 450,000 | — | A | 465,291 | D | |
| Class B Common StockF3 | holding | — | — | — | 332,700 | I | By Family Limited Partnership |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common UnitsF2 | — | Nov 19, 2018 | C | 450,000 | D | — | — | Class A Common Stock | 450,000 | 809,470 | D |
Explanation of responses
- F1Represents shares of Class B common stock owned by the reporting person that were, pursuant to the Amended and Restated Articles of Incorporation (the "Articles") of Switch, Inc. (the "Issuer"), cancelled for no consideration upon redemption of an equal number of common membership units (the "Common Units") of Switch, Ltd. (the "LLC").
- F2The reporting person redeemed Common Units of the LLC, of which the Issuer is the sole manager. Pursuant to the Articles of the Issuer and the Fifth Amended and Restated Operating Agreement of the LLC, Common Units are redeemable for an equal number of shares of the Issuer's Class A Common Stock or, at the election of the Issuer, cash per Common Unit equal to the five-day volume-weighted average market price of a share of Class A Common Stock. The Issuer elected to redeem the reporting person's Common Units with Class A Common Stock.
- F3Held by The Donald and Dorothy R. Snyder 2005 Family Limited Partnership, as to which Mr. Snyder is the general partner.