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If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) |
As initially reported in Ms. Pegula's Form 4 filing dated July 27, 2017, she was elected to the Board of Republic Services, Inc. ("Company") effective July 25, 2017. The Company annually grants, as of the first business day in January, each non-employee director a grant of restricted stock units ("RSUs") pursuant to the Company's 2007 Stock Incentive Plan, as amended. The grant is based on a value on the date of grant of $220,000, with the number of RSUs calculated based on the closing stock price of the Company's common stock on the date of grant. The RSUs immediately vest; however, the director cannot convert any of the RSUs to Company common stock (based on 1 on 1 conversion) until the earlier of the last day of the month in which the three year anniversary of the date of the award occurs unless deferred by the director or the date on which the director incurs a separation from service within the meaning of Section 409A of the Internal Revenue Code. |
(2) |
As initially reported in Ms. Pegula's Form 4 filing dated July 27, 2017, the annual grant of RSUs to a newly appointed director is prorated to the number of days remaining in the calendar year. After any quarter in which dividends are distributed to shareholders, the director receives additional RSU equivalents. The amended Form 4 filing dated July 31, 2017 corrects the administrative error in the number of RSUs granted to Ms. Pegula as previously reported in the Form 4 dated July 27, 2017. Ms. Pegula was granted 1,485 RSUs as of July 25, 2017 ("Date of Grant"), based on the remaining 160 days in the calendar year and closing stock price of $64.98 as of the Date of Grant. The RSUs are scheduled to convert to common stock as of July 31, 2020. |