SEC Form 4 · accession 0000885590-15-000005
Bausch Health Companies Inc. · BHC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Howard Bradley Schiller
Officer — EVP, Chief Financial Officer
Period of report
Jan 5, 2015
Accepted (ET)
Jan 7, 2015 · 5:38 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000885590
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, no par valueF1 | Jan 5, 2015 | M | 45,000 | $0.00 | A | 318,714 | D | |
| Common Stock, no par valueF2 | Jan 5, 2015 | F | 23,600 | $0.00 | D | 295,114 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share UnitsF1,F3 | — | Jan 5, 2015 | M | 45,000 | D | — | — | Common Stock | 22,500 | 22,500 | D |
Explanation of responses
- F1This represents the number of units vested on the performance-based RSUs ("PSUs") that were previously reported on the original Form 4. The initial grant was reported to vest based on total shareholder return (TSR) between a price of $42.70 starting on December 1, 2011 and the average stock price for the 20 trading days starting on each measurement dates: 25% on September 1, 2014, 50% on December 1, 2014 and 25% on March 1, 2015. Unit vesting is contingent on TSR performance between 15% and 45% into between one and three shares of common stock, respectively, with early vesting possible at higher TSR levels.
- F2This number represents common shares withheld to satisfy the tax withholding obligations due upon vesting of Performance Share Units.
- F3Represents the maximum number of Common Shares that may be issued under the RSU award. See note 1.