Business Context and Reporting Period
This Form 8-K is filed by Altice USA, Inc. (not Optimum Communications, Inc., which is a subsidiary brand) for the reporting period ending December 30, 2017. The filing reports on executive compensation arrangements under the Altice USA 2017 Long Term Incentive Plan.
Key Financial Metrics
The filing text does not provide revenue, profit, cash flow, margins, debt, or liquidity figures. The document focuses exclusively on the grant of nonqualified stock options to named executive officers.
Material Changes and Executive Compensation
On December 30, 2017, the company granted nonqualified stock options to three senior executives as part of their 2017 annual compensation. These were the first grants made under the 2017 Long Term Incentive Plan.
- Recipients: Dexter Goei (Chairman & CEO), Charles Stewart (Co-President & CFO), and Abdelhakim Boubazine (Co-President & COO).
- Strike Price: $19.48 per share (fair market value).
- Share Allocation:
- Dexter Goei: 1,201,208 shares
- Charles Stewart: 256,668 shares
- Abdelhakim Boubazine: 256,668 shares
- Vesting Schedule: Options cliff vest on December 21, 2020.
Guidance, Outlook, and Risks
The filing text does not provide financial guidance, outlook, management commentary on operations, or specific risk factors. The only contingency noted is that the options are subject to the provisions of the award agreement attached as Exhibit 99.1.
Investor Verification Checklist
- Verify the total number of shares authorized under the Altice USA 2017 Long Term Incentive Plan to assess dilution impact.
- Review the attached Exhibit 99.1 (Form of Nonqualified Stock Option Award Agreement) for specific performance conditions or forfeiture clauses.
- Confirm the current trading price of Class A common stock relative to the $19.48 strike price to evaluate the intrinsic value of the grants.
- Check subsequent filings for any changes to the vesting schedule or executive departures prior to the December 21, 2020 cliff vest date.