0001051470-23-000060.txt : 20230224 0001051470-23-000060.hdr.sgml : 20230224 20230224173624 ACCESSION NUMBER: 0001051470-23-000060 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230222 FILED AS OF DATE: 20230224 DATE AS OF CHANGE: 20230224 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Kavanagh Michael Joseph CENTRAL INDEX KEY: 0001691933 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-16441 FILM NUMBER: 23668906 MAIL ADDRESS: STREET 1: 8020 KATY FREEWAY CITY: HOUSTON STATE: TX ZIP: 77024 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: CROWN CASTLE INC. CENTRAL INDEX KEY: 0001051470 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 760470458 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 8020 KATY FREEWAY CITY: HOUSTON STATE: TX ZIP: 77024 BUSINESS PHONE: 7135703000 MAIL ADDRESS: STREET 1: 8020 KATY FREEWAY CITY: HOUSTON STATE: TX ZIP: 77024 FORMER COMPANY: FORMER CONFORMED NAME: CROWN CASTLE INTERNATIONAL CORP DATE OF NAME CHANGE: 19971215 4 1 wf-form4_167727815373257.xml FORM 4 X0306 4 2023-02-22 0 0001051470 CROWN CASTLE INC. CCI 0001691933 Kavanagh Michael Joseph 8020 KATY FREEWAY HOUSTON TX 77024 0 1 0 0 EVP & Chief Commercial Officer Time RSUs 2023-02-22 4 A 0 9909 0 A Common Stock 9909.0 9909 D Performance RSUs 2023-02-22 4 A 0 9390 0 A Common Stock 9390.0 9390 D Performance RSUs 2023-02-22 4 A 0 10977 0 A Common Stock 10977.0 10977 D Each Restricted Stock Unit ("RSU") is issued pursuant to the Company's 2022 Long-Term Incentive Plan and represents a contingent right to receive one share of common stock, and vesting (i.e., forfeiture restriction termination) generally is subject to (i) the reporting person remaining an employee or director of the Company or its affiliates and (ii) the other criteria described in the footnotes below. 33 1/3% of the Time RSUs vest on February 19 of each of 2024, 2025 and 2026. 0% to 150% of these Relative TSR Performance RSUs may vest on February 19, 2026 based on the Company's annualized total stockholder return ("TSR") performance ranking ("TSR Rank") relative to the constituent companies of the Standard & Poor's 500 Index for the three-year period ending December 31, 2025. The percentage of Relative TSR Performance RSUs that may vest will be (a) 0% if the TSR Rank is below the 30th percentile; (b) 50% if the TSR Rank is at the 30th percentile; (c) 100% if the TSR Rank is at the 55th percentile; and (d) 150% if the TSR Rank is at the 90th percentile or greater. If the TSR Rank is between the 30th and 55th percentiles or between the 55th and 90th percentiles, the percentage of Relative TSR Performance RSUs that may vest is determined using linear interpolation. 0% to 150% of these Absolute TSR Performance RSUs may vest on February 19, 2026 based on the Company's annualized TSR for the three-year period ending December 31, 2025. The percentage of Absolute TSR Performance RSUs that may vest will be (a) 0% if TSR is below 6.5%; (b) 50% if TSR is 6.5%; (c) 100% if TSR is 11.5%; and (d) 150% if TSR is 16.5% or greater. If TSR is between 6.5% and 11.5% or between 11.5% and 16.5%, the percentage of Absolute TSR Performance RSUs that may vest is determined using linear interpolation. /s/ Michael Joseph Kavanagh 2023-02-24