Kevin Speed, VP of Avaya Holdings Corp., just received 16,906 restricted shares from the company. The restricted shares don't become available to Speed until such time as they become vested. Speed now owns at least 16,906 restricted shares of the company.
Some additional info was provided as follows:
These Restricted Stock Units (each, an "RSU") were granted on December 6, 2019 pursuant to the Avaya Holdings Corp. 2019 Equity Incentive Plan (the "Equity Plan").
Each RSU represents a contingent right to receive, at vesting, an amount in cash equal to (x) the number of vested RSUs multiplied by (y) the closing price of one share of common stock, par value $0.01 per share, of Avaya Holdings Corp. ("Common Stock") on the trading day immediately preceding the settlem
ent date; provided, that to the extent there are shares of Common Stock available under the Equity Plan when the applicable portion of RSUs are settled and an effective registration statement is on file with the Securities and Exchange Commission for such shares, the Issuer may deliver one share of Common Stock for each vested RSU.
Represents RSUs granted on December 6, 2019 pursuant to the Equity Plan, with 33.34% vesting on February 15, 2021 and 8.33% vesting each May 15, August 15, November 15 and February 15 thereafter.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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