0001683168-21-000801.txt : 20210305
0001683168-21-000801.hdr.sgml : 20210305
20210305200249
ACCESSION NUMBER: 0001683168-21-000801
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210303
FILED AS OF DATE: 20210305
DATE AS OF CHANGE: 20210305
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Borden Teresa A.
CENTRAL INDEX KEY: 0001805361
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-38231
FILM NUMBER: 21720338
MAIL ADDRESS:
STREET 1: C/O SWITCH, INC.
STREET 2: 7135 SOUTH DECATUR BOULEVARD
CITY: LAS VEGAS
STATE: NV
ZIP: 89118
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Switch, Inc.
CENTRAL INDEX KEY: 0001710583
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
IRS NUMBER: 821883953
STATE OF INCORPORATION: NV
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 7135 SOUTH DECATUR BOULEVARD
CITY: LAS VEGAS
STATE: NV
ZIP: 89118
BUSINESS PHONE: (702) 444-4111
MAIL ADDRESS:
STREET 1: 7135 SOUTH DECATUR BOULEVARD
CITY: LAS VEGAS
STATE: NV
ZIP: 89118
4
1
ownership.xml
X0306
4
2021-03-03
0
0001710583
Switch, Inc.
SWCH
0001805361
Borden Teresa A.
C/O SWITCH, INC.
7135 SOUTH DECATUR BOULEVARD
LAS VEGAS
NV
89118
0
1
0
0
Chief Construction Officer
Class A Common Stock, par value $0.001
2021-03-03
4
A
0
5384
0
A
687855
D
Performance-Vesting Stock Units
0
2021-03-03
4
A
0
7944
0
A
2024-03-03
2024-03-03
Class A Common Stock, par value $0.001
7944
7944
D
Represents restricted stock units ("RSUs") granted on March 3, 2021 that convert, on a one-to-one basis, into shares of Class A Common Stock upon vesting. The 25% of the RSUs will vest on each of March 3, 2022, 2023, 2024, and 2025.
The Reporting Person was issued 3,972 Performance-Vesting Stock Units ("PSUs") by Switch, Inc. under its 2017 Incentive Award Plan on March 3, 2021. The PSUs will convert to shares of Switch, Inc. Class A Common Stock on March 3, 2024 only if the Company has achieved a certain level of total shareholder return ("TSR") relative to the Peer Group (defined below) over a three-year performance period. The number of shares of Class A Common Stock that the Reporting Person may receive is interpolated for TSR falling between Threshold, Target, and Maximum levels as described below.
Reporting Person will receive(i) a maximum of 7,944 shares of Common Stock if Company's TSR is ranked at or above the 90th percentile relative to a peer group of companies defined in Performance-vesting Restricted Stock Unit Agreement (the "Peer Group") for the performance period (the "Maximum"); (ii) 3,972, 5,283, or 6,621 shares of Class A Common Stock if Company's TSR is ranked at the 60th, 70th, 80th percentile relative to the Peer Group for the performance period (the "Target"); or (iii) 199, 1,390, 2,582, 3,773 shares of Common Stock if Company's TSR is ranked at the 20th, 30th, 40th, 50th percentile relative to the Peer Group for the performance period (the "Threshold"). The Reporting Person will not receive any shares of Common Stock if Company's TSR is below the 20th percentile relative to the Peer Group for the performance period.
The Maximum award that the Reporting Person will receive shall not exceed two (2) times the fair market value of the Target award, determined as of the date of grant.
/s/ Teresa A. Borden
2021-03-05