SEC Form 4 · accession 0001681171-16-000004
Bausch Health Companies Inc. · BHC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christina Ackermann
Officer — EVP and General Counsel
Period of report
Aug 8, 2016
Accepted (ET)
Aug 10, 2016 · 7:33 pm EDT
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,F2,F3 | Aug 8, 2016 | A | 122,762 | $0.00 | A | 122,762 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the award of 26,306 Restricted Share Units ("RSUs"), subject to performance-based vesting criteria as described in note (2), and 43,844 RSUs subject to continued service based on vesting criteria as described in note (3). Vested RSUs are settled in common shares, no par value ("Common Shares"), of Valeant Pharmaceuticals International, Inc. ("Valeant").
- F2Each performance-based RSU represents a contingent right to receive up to three Common Shares on the achievement of 10 per cent, 20 per cent, and 30 per cent total shareholder return rate (TSR). The performance-based RSUs shall vest between 0-300 per cent based on meeting certain performance criteria as measured approximately three years from the grant date (Measurement Date). 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, the reporting person will receive no more than the number of Common Shares equal to 100 per cent of the RSUs subject to the award.
- F3RSUs subject to continued service will vest one-third on each of the three anniversaries following the date of grant.