0000899243-22-006434.txt : 20220215 0000899243-22-006434.hdr.sgml : 20220215 20220215170657 ACCESSION NUMBER: 0000899243-22-006434 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220212 FILED AS OF DATE: 20220215 DATE AS OF CHANGE: 20220215 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Kuznicki Kevin M CENTRAL INDEX KEY: 0001733306 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34056 FILM NUMBER: 22640056 MAIL ADDRESS: STREET 1: 8540 GANDER CREEK DRIVE CITY: MIAMISBURG STATE: OH ZIP: 45342 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Verso Corp CENTRAL INDEX KEY: 0001421182 STANDARD INDUSTRIAL CLASSIFICATION: PAPER MILLS [2621] IRS NUMBER: 753217389 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 8540 GANDER CREEK DRIVE CITY: MIAMISBURG STATE: OH ZIP: 45342 BUSINESS PHONE: (877) 855-7243 MAIL ADDRESS: STREET 1: 8540 GANDER CREEK DRIVE CITY: MIAMISBURG STATE: OH ZIP: 45342 FORMER COMPANY: FORMER CONFORMED NAME: Verso Paper Corp. DATE OF NAME CHANGE: 20071213 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2022-02-12 0 0001421182 Verso Corp VRS 0001733306 Kuznicki Kevin M 8540 GANDER CREEK DRIVE MIAMISBURG OH 45342 0 1 0 0 SVP, GC & Sec. Common Stock 2022-02-12 4 A 0 4673 0.00 A 24254.23 D Consists of 4,673 stock units. Each stock unit represents the right, subject to vesting, to receive one share of common stock. The stock units will vest as follows: (i) 33% on January 1, 2023; (ii) 33% on January 1, 2024; and (iii) 34% on January 1, 2025. The reported stock units do not include 4,673 stock units that will vest if certain performance objectives established by the issuer have been met as measured over the three-year period from January 1, 2022 to December 31, 2024. Pursuant to that certain Agreement and Plan of Merger, dated as of December 19, 2021, by and among the Verso Corporation, BillerudKorsnas Inc., West Acquisition Merger Sub Inc. and, solely for purposes of certain sections thereof, BillerudKorsnas AB (the "Merger Agreement"), (Continued from Footnote 1) at the effective time of the transactions described in the Merger Agreement, the grant of 4,673 reported stock units and the grant of 4,673 stock units that are subject to performance-based vesting will, in each case, be converted into a cash-based award with a dollar value equal to one-third of the product of (a) $27.00, multiplied by (b) the number of shares of common stock that would have been issuable under the stock units in respect of which the cash-based award is issued (and, in the case of stock units that are subject to performance-based vesting, with performance criteria deemed achieved at the target level of performance), and including, for the avoidance of doubt, any dividend equivalents credited in respect of such stock units (the "Converted Cash-Based Award"), (Continued from Footnote 2) with such Converted Cash-Based Award vesting in full on December 31, 2022, subject to the holder's continued employment on such date. However, in the event that the holder's employment is terminated without "cause," due to the holder's death or "disability" or due to the holder's resignation for "good reason," in each case, prior to December 31, 2022, the Converted Cash-Based Award will continue to be payable on such date notwithstanding such earlier termination. Consists of: (i) the 4,673 stock units described in footnote (1); (ii) 7,536.72 stock units vesting in three substantially equal annual installments beginning on May 5, 2022; and (iii) 12,044.51 stock units vesting in three substantially equal annual installments beginning on November 8, 2022. /s/ Brian J. Russell, as Attorney-in-Fact 2022-02-15