SEC Form 4 · accession 0001127602-18-011033

Bausch Health Companies Inc. · BHC

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — CHAIRMAN & CEO · Director

Period of report

Mar 7, 2018

Accepted (ET)

Mar 9, 2018 · 8:47 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 Shares, No Par Value^F1,F2	Mar 7, 2018	A	113,652	$0.00	A	689,019	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Non-qualified Stock Options (right To Purchase)^F3	$15.32	Mar 7, 2018	A	338,058	A	—	Mar 7, 2028	Common Shares, No Par Value	338,058	338,058	D
Restricted Share Units^F4	—	Mar 7, 2018	A	511,434	A	—	Mar 7, 2021	Common Stock	511,434	511,434	D

F1Represents the award of restricted share units ("RSUs") which will vest one-third on each of the first three anniversaries following the date of grant, subject to the reporting person's continued service. Vested RSUs are settled in common shares, no par value ("Common Shares"), of Valeant Pharmaceuticals International, Inc. ("Valeant").
F2Reflects the cancellation, on March 7, 2018, of 933,416 performance-based RSUs granted on May 2, 2016, as reported on a Form 4 filed by the reporting person on May 4, 2016.
F3The options vest in equal installments on each of the first three anniversaries of the date of grant.
F4Represents a grant of performance-based RSUs. The target number of performance-based RSUs granted to the reporting person was 255,717 and the maximum number that can be distributed is 511,434. The performance-based RSUs shall vest and be distributed between 0-200% of target based on Valeant's Total Shareholder Return ("TSR") as measured for the 20 trading days preceding the TSR Measurement Date ("Measurement Date") which is the third anniversary of the grant date (March 7, 2021). If Valeant's TSR for the period between the grant date and the Measurement Date is below the 50th percentile ranking of the TSR for the applicable peer group based on the 20 trading days preceding the Measurement Date, the reporting person will receive no more than the number of Common Shares equal to the target number of performance-based RSUs subject to the award.