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