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