0001209191-23-030749.txt : 20230518
0001209191-23-030749.hdr.sgml : 20230518
20230518173646
ACCESSION NUMBER: 0001209191-23-030749
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230516
FILED AS OF DATE: 20230518
DATE AS OF CHANGE: 20230518
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: WARTELL DAVID
CENTRAL INDEX KEY: 0001735950
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-16371
FILM NUMBER: 23937304
MAIL ADDRESS:
STREET 1: C/O IDT CORPORATION
STREET 2: 520 BROAD STREET
CITY: NEWARK
STATE: NJ
ZIP: 07102
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: IDT CORP
CENTRAL INDEX KEY: 0001005731
STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
IRS NUMBER: 223415036
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0731
BUSINESS ADDRESS:
STREET 1: 520 BROAD ST
CITY: NEWARK
STATE: NJ
ZIP: 07102
BUSINESS PHONE: 973 438 1000
MAIL ADDRESS:
STREET 1: 520 BROAD STREET
CITY: NEWARK
STATE: NJ
ZIP: 07102
4
1
doc4.xml
FORM 4 SUBMISSION
X0407
4
2023-05-16
0
0001005731
IDT CORP
IDT
0001735950
WARTELL DAVID
C/O IDT CORPORATION
520 BROAD STREET
NEWARK
NJ
07102
0
1
0
0
CHIEF TECHNOLOGY OFFICER
0
Class B Common Stock, par value $.01 per share
2023-05-16
4
A
0
8000
0.00
A
16927
D
Class B Common Stock, par value $.01 per share
2023-05-17
4
M
0
2918
32.37
A
19845
D
Class B Common Stock, par value $.01 per share
2023-05-17
4
F
0
781
32.37
D
19064
D
Deferred Stock Units
2023-05-16
4
A
0
3000
0.00
A
Class B Common Stock
3000
3000
D
Deferred Stock Units
2023-05-17
4
M
0
2334
0.00
D
Class B Common Stock
2334
4666
D
Represents a grant of 8,000 restricted shares of Class B common stock ("Restricted Stock") that will vest, and vest in full, only if the Class B common stock closes above $50 per share for 10 consecutive trading days prior to February 25, 2025.
Consists of 8,927 shares of Class B common stock issued upon the vesting of deferred stock units ("DSUs") and 8,000 shares of Restricted Stock that will vest, and vest in full, only if the Class B common stock closes above $50 per share for 10 consecutive trading days prior to February 25, 2025.
Of the 2,334 DSUs that were eligible to vest on May 17, 2023, the Reporting Person elected to vest all 2,334 DSUs on May 17, 2023 and did not roll any DSUs to the next vesting date of February 1, 2024. Under the terms of the IDT Corporation Equity Growth Program, due to the market price of the Issuer's Class B common stock in the period prior to the May 17, 2023 vesting date, each DSU that vested entitled the Reporting Person to receive 1.25 shares of Class B common stock.
Consists of 11,845 shares of Class B common stock issued upon the vesting of DSUs and 8,000 shares of Restricted Stock that will vest, and vest in full, only if the Class B common stock closes above $50 per share for 10 consecutive trading days prior to February 25, 2025.
Represents shares withheld by the Issuer for tax purposes upon the vesting of DSUs.
Consists of 11,064 shares of Class B common stock issued upon the vesting of DSUs and 8,000 shares of Restricted Stock that will vest, and vest in full, only if the Class B common stock closes above $50 per share for 10 consecutive trading days prior to February 25, 2025.
Represents grant of 3,000 DSUs, 2,000 of which vest on 2/21/2024 and 1,000 of which vest on 2/25/2025, with the recipient having the option on 2/21/2024 to defer vesting to the next scheduled vesting. The number of shares of Class B common stock that will be issued depends on the Market Price on the applicable vesting date as compared to the Grant Price of the DSUs ($25.41), with no less than 0.5 shares (Market Price less than $12.705) and no more than 2 shares (Market Price greater than $50.82), in 12.5% increments, to be issued for each DSU vested. Upon vesting of all of the DSUs, between 1,500 and 6,000 shares of Class B common stock will have been issued. "Market Price" for each vesting date will be the greater of (i) the closing price for the Class B common stock on the trading date immediately prior to such vesting date, and (ii) the average of the closing prices of the Class B common stock for the 20 trading days ending with the trading day immediately prior to such vesting date
Represents 7,000 DSUs vesting ratably on 5/17/2023, 2/21/2024 and 2/25/2025, with the recipient having the option on 5/17/2023 and 2/21/2024 to defer vesting to the next scheduled vesting. The number of shares of Class B common stock that will be issued depends on the Market Price on the applicable vesting date as compared to the Grant Price of the DSUs ($25.41), with no less than 0.5 shares (Market Price less than $12.705) and no more than 2 shares (Market Price greater than $50.82), in 12.5% increments, to be issued for each DSU vested. Upon vesting of all of the DSUs, between 3,500 and 14,000 shares of Class B common stock will have been issued. "Market Price" for each vesting date will be the greater of (i) the closing price for the Class B common stock on the trading date immediately prior to such vesting date, and (ii) the average of the closing prices of the Class B common stock for the 20 trading days ending with the trading day immediately prior to such vesting date.
Joyce J. Mason by Power of Attorney
2023-05-18