-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IjEkuOQsx25bPgvMlBrsrc0eML1Iwi8g7LJuPHP9WeeaNtagXo4TTkitV3Z6W0cZ BtuNy+cpxmOL3u2QMLxM0A== 0001287579-09-000001.txt : 20090309 0001287579-09-000001.hdr.sgml : 20090309 20090309172456 ACCESSION NUMBER: 0001287579-09-000001 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090305 FILED AS OF DATE: 20090309 DATE AS OF CHANGE: 20090309 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: TARGOFF MICHAEL B CENTRAL INDEX KEY: 0001223765 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-14180 FILM NUMBER: 09667096 BUSINESS ADDRESS: BUSINESS PHONE: 212-697-1105 MAIL ADDRESS: STREET 1: 40 WEST 57TH ST. CITY: NEW YORK STATE: NY ZIP: 10019 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: LORAL SPACE & COMMUNICATIONS INC. CENTRAL INDEX KEY: 0001006269 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 870748324 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 600 THIRD AVE CITY: NEW YORK STATE: NY ZIP: 10016 BUSINESS PHONE: 2126971105 MAIL ADDRESS: STREET 1: 600 THIRD AVE CITY: NEW YORK STATE: NY ZIP: 10016 FORMER COMPANY: FORMER CONFORMED NAME: LORAL SPACE & COMMUNICATIONS LTD DATE OF NAME CHANGE: 19960124 4 1 primary_doc.xml PRIMARY DOCUMENT X0303 4 2009-03-05 0 0001006269 LORAL SPACE & COMMUNICATIONS INC. LORL 0001223765 TARGOFF MICHAEL B 40 WEST 57TH ST. NEW YORK NY 10019 1 1 0 0 Vice Chairman,CEO andPresident Restricted Stock Units 2009-03-05 4 A 0 85000 0 A Common Stock 85000 85000 D Restricted Stock Unit 2009-03-05 4 A 0 50000 0 A Common Stock 50000 135000 D Restricted Stock Units 2009-03-05 4 A 0 40000 0 A Common Stock 40000 175000 D Each restricted stock unit has a value equal to one share of Loral voting common stock, par value $0.01 per share (the "Stock"), and generally provides the recipient with the right to receive one share of Stock or cash equal to one share of Stock, at the option of the Company, on the settlement date. Mr. Targoff was awarded 85,000 RSUs (the "Initial Grant") on March 5, 2009. Vesting of the Initial Grant requires the satisfaction of two conditions: a time-based vesting condition and a stock price vesting condition. The time-based vesting condition for the Initial Grant will be satisfied upon Mr. Targoff's continued employment through March 5, 2010, the first anniversary of the grant date. The stock price vesting condition, which applies to both the Initial Grant and the Subsequent Grants (see footnote 3 below), will be satisfied only when the average closing price of the Stock over a period of 20 consecutive trading days is at or above $25 during the period commencing on the grant date and ending on March 31, 2013. The time-based vesting condition of the Initial Grant is subject to full or partial acceleration upon Mr. Targoff's death, disability, termination of employment without cause or resignation for good reason or upon a change of control of Loral In addition to the Initial Grant, the Company agreed to grant to Mr. Targoff 50,000 RSUs on the first anniversary of the grant date and another 40,000 RSUs on the second anniversary of the grant date (the "Subsequent Grants"). Vesting of the Subsequent Grants is subject only to the stock-price vesting condition (see footnote 2). The Company's obligation to make the Subsequent Grants is subject to full or partial acceleration upon Mr. Targoff's death, disability, termination of employment without cause or resignation for good reason or upon a change of control of Loral. Michael B. Targoff 2009-03-09 -----END PRIVACY-ENHANCED MESSAGE-----