Statement of Changes in Beneficial Ownership (4)
June 19 2020 - 6:02PM
Edgar (US Regulatory)
FORM 4
[ ]
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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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
*
Benken Richard |
2. Issuer Name and Ticker or Trading Symbol
ALASKA COMMUNICATIONS SYSTEMS GROUP INC
[
ALSK
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) VP Network Strategy |
(Last)
(First)
(Middle)
C/O ALASKA COMMUNICATIONS SYSTEMS, 600 TELEPHONE AVENUE |
3. Date of Earliest Transaction
(MM/DD/YYYY)
6/17/2020 |
(Street)
ANCHORAGE, AK 99503
(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 | $0.00 (1) | 6/17/2020 | | A | | 19487 | | (2) | 6/17/2030 | Common Stock | 19487 | $0.00 | 19487 | D | |
Performance Stock Units | $0.00 (1) | 6/17/2020 | | A | | 19487 | | (3) | 6/17/2030 (4) | Common Stock | 19487 | $0.00 | 19487 | D | |
Explanation of Responses: |
(1) | Restricted stock unit award under the Alaska Communications Systems Group, Inc. 2011 Incentive Award Plan. |
(2) | Amount represents restricted stock units granted under the Alaska Communications Systems Group, Inc. 2011 Incentive Award Plan which will vest in three equal annual installments beginning on the first company business day on or after June 17, 2021, subject to continued employment. |
(3) | 70% of PSUs are comprised of one tranche with a performance period of three years. This tranche will vest if the Company's Cumulative Adjusted Free Cash Flow meets or exceeds the identified vesting amount during the performance period for that tranche. 30% of PSUs are comprised of three tranches with performance periods of one, two, or three years. Each tranche will vest if the Company's stock price measured over 10 consecutive trading days meets or exceeds the identified vesting price for that tranche during the performance period for that tranche. |
(4) | Any tranches that do not vest within their identified vesting time frame shall immediately terminate after the close of the vesting period and be forfeited without any settlement, thereunder. All awards subject to continued employment. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Benken Richard C/O ALASKA COMMUNICATIONS SYSTEMS 600 TELEPHONE AVENUE ANCHORAGE, AK 99503 |
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| VP Network Strategy |
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Signatures
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/s/ Leonard Steinberg for Richard Benken | | 6/19/2020 |
**Signature of Reporting Person | Date |
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