SEC Form 4 · accession 0000885590-15-000006
Bausch Health Companies Inc. · BHC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
J. Michael Pearson
Officer — Chief Executive Officer
Period of report
Jan 7, 2015
Accepted (ET)
Jan 9, 2015 · 4:21 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000885590
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share UnitsF1,F2,F3 | — | Jan 7, 2015 | A | 450,000 | A | — | — | Common Shares, no par value | 2,250,000 | 450,000 | D |
Explanation of responses
- F1Each Restricted Share Unit ("RSU") represents a contingent right to receive between zero and five common shares, no par value ("Common Shares"), of Valeant Pharmaceuticals International, Inc. ("Valeant"), subject to performance based vesting criteria. See note (2).
- F2The performance based RSUs are eligible to vest on the achievement of TSR targets ranging from 10% to 50% over a base price of $140.63 (i.e., at 10% each vesting RSU earns one Common Share and at 50% each vesting RSU earns five Common Shares) on each of three measurement dates: 25% would vest on October 7, 2019, 50% on January 7, 2020 and 25% on April 7, 2020, with early vesting possible after the third anniversary of the grant date at higher TSR levels.
- F3Represents the maximum number of Common Shares that may be issued under the RSU award. See note (2).