FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Nacht Gabriel
2. Issuer Name and Ticker or Trading Symbol

Switch, Inc. [ SWCH ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chief Financial Officer
(Last)          (First)          (Middle)

C/O SWITCH, INC., 7135 SOUTH DECATUR BOULEVARD
3. Date of Earliest Transaction (MM/DD/YYYY)

12/6/2022
(Street)

LAS VEGAS, NV 89118
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class B Common Stock 12/6/2022  D(1)  337353 D (1)0 D  
Class A Common Stock 12/6/2022  M(2)(3)  55648 A (2)(3)305972 D  
Class A Common Stock (4)12/6/2022  D(5)  305972 (4)D$34.25 (5)0 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Option (Right to Buy) $17 12/6/2022  D (5)    162647  10/5/2017 10/5/2027 Class A Common Stock 162647 $34.25 (5)0 D  
Common Units  (1)12/6/2022  D (1)    337353  12/6/2022  (1)Class A Common Stock 337353 $34.25 (1)0 D  
Option (Right to Buy) $6.97 12/6/2022  D (5)    353667  3/7/2022 12/13/2028 Class A Common Stock 353667 $34.25 (5)0 D  
Option (Right to Buy) $10.66 12/6/2022  D (5)    206402  12/6/2022 (6)3/14/2029 Class A Common Stock 206402 $34.25 (5)0 D  
Option (Right to Buy) $14.95 12/6/2022  D (5)    159642  12/6/2022 (7)3/2/2030 Class A Common Stock 159642 $34.25 (5)0 D  
Performance-Based Restricted Stock Units  (2)(3)12/6/2022  M (2)(3)    37076  12/6/2022  (2)(3)Class A Common Stock 45059  (2)(3)0 D  
Performance-Based Restricted Stock Units  (2)(3)12/6/2022  M (2)(3)    21720  12/6/2022  (2)(3)Class A Common Stock 10589  (2)(3)0 D  

Explanation of Responses:
(1) Represents the cancellation of the Common Units in exchange for the per share cash Merger consideration of $34.25, and the associated cancellation for no consideration of the shares of Class B Common Stock, on the Merger closing date in accordance with the terms of the Merger Agreement. The Common Units have no expiration date.
(2) In connection with the merger (the "Merger") contemplated by that certain Agreement and Plan of Merger (the "Merger Agreement"), dated May 11, 2022, by and among Switch, Inc. (the "Company"), Switch, Ltd., a Nevada limited liability company, Sunshine Merger Sub, Ltd., a Nevada limited liability company and a direct and wholly owned subsidiary of the Company, Sunshine Bidco Inc., a Delaware corporation ("Parent"), and Sunshine Parent Merger Sub Inc., a Nevada corporation and a wholly owned subsidiary of Parent, the performance period for the performance-based restricted stock units ("PSUs") ended on the closing date of the Merger.
(3) The Company achieved maximum performance under the total shareholder return ("TSR") performance goals of the PSUs through the Merger closing date, with an aggregate 55,648 of the resulting earned PSUs converting to an equal number of shares of Class A Common Stock, and an aggregate 61,944 of the resulting earned PSUs converting to contingent cash awards valued at an amount equal to such number of earned PSUs multiplied by the cash Merger consideration of $34.25 per PSU. The contingent cash awards vest generally in six-month increments, tied to the original grant date of the applicable PSUs, commencing February 28, 2023 and continuing through February 28, 2025, subject to continued service through such vesting dates.
(4) Includes the full vesting and cancellation of 105,189 restricted stock units ("RSUs") in exchange for the per share cash Merger consideration of $34.25 on the Merger closing date in accordance with the terms of the Merger Agreement.
(5) Represents the cancellation of securities, including equity awards, in exchange for the per share cash Merger consideration of $34.25, on the Merger closing date, in accordance with the terms of the Merger Agreement.
(6) Includes 51,600 options that were scheduled to vest on March 14, 2023 that became fully vested on the closing date of the Merger in accordance with the terms of the Merger Agreement.
(7) Includes 79,821 options that were scheduled to vest in equal installments on March 2, 2023 and March 2, 2024 that became fully vested on the closing date of the Merger in accordance with the terms of the Merger Agreement.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Nacht Gabriel
C/O SWITCH, INC.
7135 SOUTH DECATUR BOULEVARD
LAS VEGAS, NV 89118


Chief Financial Officer

Signatures
/s/ Nacht, Gabriel12/8/2022
**Signature of Reporting PersonDate


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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Switch (NYSE:SWCH)
過去 株価チャート
から 5 2024 まで 6 2024 Switchのチャートをもっと見るにはこちらをクリック
Switch (NYSE:SWCH)
過去 株価チャート
から 6 2023 まで 6 2024 Switchのチャートをもっと見るにはこちらをクリック