0001209191-23-030746.txt : 20230518 0001209191-23-030746.hdr.sgml : 20230518 20230518173608 ACCESSION NUMBER: 0001209191-23-030746 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230517 FILED AS OF DATE: 20230518 DATE AS OF CHANGE: 20230518 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: ASH MENACHEM CENTRAL INDEX KEY: 0001560958 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-16371 FILM NUMBER: 23937300 MAIL ADDRESS: STREET 1: C/O IDT CORPORATION STREET 2: 520 BROAD STREET CITY: NEWARK STATE: NJ ZIP: 07102 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: IDT CORP CENTRAL INDEX KEY: 0001005731 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 223415036 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 BUSINESS ADDRESS: STREET 1: 520 BROAD ST CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973 438 1000 MAIL ADDRESS: STREET 1: 520 BROAD STREET CITY: NEWARK STATE: NJ ZIP: 07102 4 1 doc4.xml FORM 4 SUBMISSION X0407 4 2023-05-17 0 0001005731 IDT CORP IDT 0001560958 ASH MENACHEM C/O IDT CORPORATION 520 BROAD STREET NEWARK NJ 07102 0 1 0 0 EVP of Strategic&Legal Affairs 0 Class B Common Stock, par value $.01 per share 2023-05-17 4 M 0 4168 32.37 A 57874 D Class B Common Stock, par value $.01 per share 2023-05-17 4 F 0 1507 32.37 D 56367 D Class B Common Stock, par value $.01 per share 2863 I By 401(k) Plan Deferred Stock Units 2023-05-17 4 M 0 3334 0.00 D Class B Common Stock 3334 6666 D Of the 3,334 deferred stock units ("DSUs") that were eligible to vest on May 17, 2023, the Reporting Person elected to vest all 3,334 DSUs on May 17, 2023 and did not roll any DSUs to the next vesting date of February 1, 2024. Under the terms of the IDT Corporation Equity Growth Program, due to the market price of the Issuer's Class B common stock in the period prior to the May 17, 2023 vesting date, each DSU that vested entitled the Reporting Person to receive 1.25 shares of Class B common stock. Consists of 12,912 shares of Class B common stock issued upon the vesting of DSUs, 28,962 fully vested restricted shares of the Issuer's Class B common stock ("Restricted Stock"), and 16,000 unvested shares of Restricted Stock that will vest, and vest in full, only if the Class B common stock closes above $50 per share for 10 consecutive trading days prior to February 25, 2025. Represents shares withheld by the Issuer for tax purposes upon the vesting of DSUs. Consists of 11,405 shares of Class B common stock issued upon the vesting of DSUs, 28,962 fully vested shares of Restricted Stock, and 16,000 unvested shares of Restricted Stock that will vest, and vest in full, only if the Class B common stock closes above $50 per share for 10 consecutive trading days prior to February 25, 2025. As of April 30, 2023. Represents 10,000 DSUs vesting ratably on 5/17/2023, 2/21/2024 and 2/25/2025, with the recipient having the option on 5/17/2023 and 2/21/2024 to defer vesting to the next scheduled vesting. The number of shares of Class B common stock that will be issued depends on the Market Price on the applicable vesting date as compared to the Grant Price of the DSUs ($25.41), with no less than 0.5 shares (Market Price less than $12.705) and no more than 2 shares (Market Price greater than $50.82), in 12.5% increments, to be issued for each DSU vested. Upon vesting of all of the DSUs, between 5,000 and 20,000 shares of Class B common stock will have been issued. "Market Price" for each vesting date will be the greater of (i) the closing price for the Class B common stock on the trading date immediately prior to such vesting date, and (ii) the average of the closing prices of the Class B common stock for the 20 trading days ending with the trading day immediately prior to such vesting date. Joyce J. Mason, by Power of Attorney 2023-05-18