Statement of Changes in Beneficial Ownership (4)
November 22 2021 - 5:29PM
Edgar (US Regulatory)
FORM 4
[X]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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SIMON ARTHUR L |
2. Issuer Name and Ticker or Trading Symbol
LORAL SPACE & COMMUNICATIONS INC.
[
LORL
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below)
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(Last)
(First)
(Middle)
600 FIFTH AVENUE |
3. Date of Earliest Transaction
(MM/DD/YYYY)
11/19/2021 |
(Street)
NEW YORK, NY 10020
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | (1) | 11/19/2021 | | D | | | 15877 | (2) | (2) | Common Stock | 15877 | (2) | 0 | D | |
Restricted Stock Units | (3) | 11/19/2021 | | D | | | 1893 | (3) | (3) | Common Stock | 1893 | (3) | 0 | D | |
Explanation of Responses: |
(1) | Each restricted stock unit, or RSU, represented a contingent right to receive one share of Common Stock of the Issuer or at the Issuer's election, the cash value thereof. |
(2) | The RSUs were fully vested prior to the Merger (as defined in the Transaction Agreement). Each RSU was settled in shares of Issuer Common Stock immediately prior to the Merger that were converted into the right to receive newly issued Class B variable voting shares of Telesat Corporation at the effective time of the Merger pursuant to the Transaction Agreement and Plan of Merger (as amended from time to time and including all exhibits and schedules thereto, the "Transaction Agreement"), dated as of November 23, 2020, as amended on June 24, 2021, by and among Loral Space & Communications Inc., Telesat Corporation, Telesat Canada, Telesat Partnership LP, Telesat CanHold Corporation, Lion Combination Sub Corporation, Public Sector Pension Investment Board and Red Isle Private Investments Inc., subject to the terms and conditions therein. |
(3) | In connection with the settlement of the reporting person's RSUs, the reporting person received a payment of shares of Issuer Common Stock equal to a cash value of $81,600. This payment was the result of an equitable adjustment to the RSUs in the form of a dividend equivalent right effected in connection with the payment in April 2012 by the Issuer to shareholders of a special dividend of Issuer Common Stock equal to $81,600. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
SIMON ARTHUR L 600 FIFTH AVENUE NEW YORK, NY 10020 | X |
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Signatures
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/s/ Arthur L. Simon | | 11/22/2021 |
**Signature of Reporting Person | Date |
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