X0306
4
2019-04-04
1
0001645494
ARRIS International plc
ARRS
0001185929
POTTS DAVID
3871 LAKEFIELD DR.
SUWANEE
GA
30024
1
EVP OF FINANCE, CFO
Ordinary Shares
2019-04-04
4
D
0
96319
31.75
D
0
D
Restricted Shares
0
2019-04-04
4
D
0
38460
D
Ordinary Shares
38460
0
D
Restricted Shares
0
2019-04-04
4
D
0
30900
D
Ordinary Shares
30900
0
D
Restricted Shares
0
2019-04-04
4
D
0
50813
D
Ordinary Shares
50813
0
D
Restricted Shares
0
2019-04-04
4
D
0
19230
D
2020-07-07
Ordinary Shares
19230
0
D
Restricted Shares
0
2019-04-04
4
D
0
15450
D
2021-03-29
Ordinary Shares
15450
0
D
Restricted Shares
0
2019-04-04
4
D
0
25407
D
2022-03-30
Ordinary Shares
25407
0
D
Pursuant to the terms of that certain Bid Conduct Agreement (the "Acquisition Agreement") between ARRIS International plc ("ARRIS") and CommScope Holding Company, Inc. ("CommScope"), CommScope agreed to acquire all of the issued and to be issued Ordinary Shares of ARRIS (the "Acquisition") for $31.75 per Ordinary Share by means of a court-sanctioned scheme of arrangement (the "Scheme"). On April 4, 2019, at the effective time of the Scheme (the "Effective Time"), each Ordinary Share then outstanding was automatically transferred from ARRIS shareholders in accordance with the Scheme and the Acquisition Agreement to CommScope, and the ARRIS shareholders ceased to have any rights with respect to their Ordinary Shares, except their right to receive $31.75 per Ordinary Share. This represents shares disposed of upon consummation of the Acquisition.
At the Effective Time, this performance-based restricted stock unit grant, which provided for vesting between 0 and 200% of the grant amount based on the Company's shareholder return as compared to the NASDAQ Composite shareholder return over a three-year measurement period, was deemed to have satisfied its performance-based vesting conditions at the target level, and was cancelled and converted into the right to receive cash equal to $31.75 multiplied by the number of Ordinary Shares subject to such performance-based restricted stock units.
This restricted stock unit grant does not have a date of expiration, but will fully vest pursuant to the predetermined vesting schedule.
At the Effective Time, this performance-based restricted stock unit grant, which provided for vesting between 0 and 200% of the grant amount based on the Company's shareholder return as compared to the NASDAQ Composite shareholder return over a three-year measurement period, was deemed to have satisfied its performance-based vesting conditions at a level that results in performance vesting at 150% of the target level, and was cancelled and converted into the right to receive cash equal to $31.75 multiplied by the number of Ordinary Shares subject to such performance-based restricted stock units.
At the Effective Time, the Ordinary Shares subject to this restricted stock unit grant, which provided for vesting in four equal annual installments beginning one year from the date of grant, were cancelled and converted into the right to receive cash equal to $31.75 multiplied by the number of restricted stock units being so cancelled and converted.
/s/ Patrick W. Macken
2019-04-08