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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Share Units | (1) | 04/17/2015 | M | 45,000 (2) | (2) | (2) | Common Stock | 45,000 | $ 0 | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Kornwasser Laizer 2150 ST. ELZEAR BLVD. WEST LAVAL, A8 H7L 4A8 |
EVP, Company Group Chairman |
by: Nicholas Zanoni for Laizer Kornwasser | 04/17/2015 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Each performance-based Restricted Share Unit ("RSU") represents a contingent right to receive between zero and three common shares, no par value ("Common Shares"), of Valeant Pharmaceuticals International, Inc. ("Valeant"), subject to performance based vesting criteria. See note (2). |
(2) | These RSUs were initially eligible to vest based on total shareholder return (TSR) between a price of $63.86 starting on February 1, 2013 and the average stock price for the 20 trading days starting on each measurement dates: 25% on November 1, 2015, 50% on February 1, 2016 and 25% on May 1, 2016, contingent on TSR performance between 10% and 30% into between one and three Common Shares of common stock, respectively, with early vesting possible at higher TSR levels. These performance-based RSUs have now vested in full. |
(3) | This number represents common shares withheld to satisfy the tax withholding obligations due upon vesting of performance-based RSUs. |