0001315255-20-000046.txt : 20200415 0001315255-20-000046.hdr.sgml : 20200415 20200415164947 ACCESSION NUMBER: 0001315255-20-000046 CONFORMED SUBMISSION TYPE: 3 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200406 FILED AS OF DATE: 20200415 DATE AS OF CHANGE: 20200415 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: BERNS STEVEN CENTRAL INDEX KEY: 0001232995 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-35965 FILM NUMBER: 20794218 MAIL ADDRESS: STREET 1: TRADEWEB MARKETS INC. STREET 2: 1177 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: GTT Communications, Inc. CENTRAL INDEX KEY: 0001315255 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 202096338 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 7900 TYSONS ONE PLACE STREET 2: SUITE 1450 CITY: MCLEAN STATE: VA ZIP: 22102 BUSINESS PHONE: (703) 442-5500 MAIL ADDRESS: STREET 1: 7900 TYSONS ONE PLACE STREET 2: SUITE 1450 CITY: MCLEAN STATE: VA ZIP: 22102 FORMER COMPANY: FORMER CONFORMED NAME: Global Telecom & Technology, Inc. DATE OF NAME CHANGE: 20061018 FORMER COMPANY: FORMER CONFORMED NAME: Mercator Partners Acquisition Corp. DATE OF NAME CHANGE: 20050124 3 1 wf-form3_158698376947554.xml FORM 3 X0206 3 2020-04-06 0 0001315255 GTT Communications, Inc. GTT 0001232995 BERNS STEVEN C/O GTT COMMUNICATIONS, INC. 7900 TYSONS ONE PLACE, SUITE 1450 MCLEAN VA 22102 0 1 0 0 Chief Financial Officer Common Stock, par value $.0001 per share 325000 D 225,000 shares represent restricted stock granted on April 6, 2020, the date of the reporting person's appointment as Chief Financial Officer. Twenty-five percent (25%) of this restricted stock will vest on April 6, 2021, and the remainder will vest in equal quarterly installments beginning on July 6, 2021. 60,000 shares represent a grant of restricted stock on April 6, 2020 pursuant to the GTT Communications, Inc. 2018 Stock Option and Incentive Plan and subject to performance vesting. In the event that a closing and funding of the sale of the GTT Infrastructure Division occurs on a date no later than December 31, 2021, the shares will vest in eight equal quarterly installments over a period of two years following such date. 40,000 shares represent a grant of restricted stock on April 6, 2020 pursuant to the GTT Communications, Inc. 2018 Stock Option and Incentive Plan and subject to performance vesting. In the event that GTT Communications, Inc. achieves a long-term target of 4X "Total Leverage" or better on a quarterly reported basis by December 31, 2023, the shares will vest in four equal quarterly installments over a period of one year, provided GTT Communications, Inc. maintains at least 4X "Total Leverage" on each such vesting date. Total Leverage is defined as (Total Debt less Cash) divided by Annualized Adjusted EBITDA. /s/ Steven Berns 2020-04-15