SEC Form 4 · accession 0001127602-16-053373
FRONTIER COMMUNICATIONS CORP · FTR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark S Shapiro
Director
Period of report
May 24, 2016
Accepted (ET)
May 25, 2016 · 3:24 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000020520
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A Mandatory Convertible Preferred StockF1,F2 | — | May 24, 2016 | P | 3,000 | A | — | Jun 29, 2018 | Common Stock | 58,938 | 3,000 | D |
Explanation of responses
- F1The conversion price of the Series A Mandatory Convertible Preferred Stock (the "Series A Preferred Stock") on the mandatory conversion date (June 29, 2018) is dependent upon the average market value of the Common Stock for a period of time prior to the mandatory conversion date as set forth in the Certificate of Designations of 11.125% Mandatory Convertible Preferred Stock, Series A, included as Exhibit 3.1 to the Issuer's Current Report on Form 8-K filed with the SEC on June 10, 2015 (the "Certificate of Designations"). The Series A Preferred Stock automatically converts into Common Stock on June 29, 2018, but holders may elect to convert shares of Series A Preferred Stock into Common Stock at any time prior to such date at a conversion price of 17.0213 shares of Common Stock per share of Series A Preferred Stock.
- F2See note (1). If the average market value of the Common Stock during the period of time indicated in note (1) prior to the mandatory conversion date were $5.09 per share (the closing price on May 24, 2016), each share of Series A Preferred Stock would convert into 19.646 shares of Common Stock on the mandatory conversion date.