4/A: ATN International SVP Mary Mabey Amends Form 4 Filing to Correctly Report Stock Unit Transactions

Mary Mabey, SVP and General Counsel of ATN International, amends her Form 4 filing to accurately reflect the acquisition and disposal of securities, including restricted stock units and performance-based restricted stock units.

Summary

• This is an amended Form 4 filing by Mary Mabey, SVP and General Counsel of ATN International, Inc.
• The amendment corrects a previous filing from March 14, 2024, regarding transactions involving common stock and performance-based restricted stock units (PSUs).
• On March 12, 2024, Ms. Mabey acquired 10,140 shares of common stock.
• These shares are related to performance-based restricted stock units (PSUs).
• The PSUs represent a contingent right to receive one share of ATN International's common stock each, subject to the achievement of pre-established relative total shareholder return (TSR) goals.
• The TSR goals are set by the Compensation Committee of the Issuer's Board of Directors, based on comparing the Issuer's TSR relative to the TSR of the Russell 2000 Index.
• Between 0% and 150% of the PSUs will generally vest, if at all, as of the end of the performance period on March 12, 2027.
• The filing also includes an adjustment to add three shares excluded in columns 5 and 7 of Ms. Mabey's previous Form 4 filing on March 14, 2024.
• Following the reported transactions, Ms. Mabey beneficially owns 39,715 shares of common stock and 16,740 derivative securities.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating standard corporate governance practices. The sentiment is neutral to slightly positive due to the transparency it provides.

Positives

• The amended filing ensures accurate reporting of Ms. Mabey's stock transactions.

Future Outlook

The performance-based restricted stock units will vest based on the company's total shareholder return (TSR) relative to the Russell 2000 Index, with the potential for vesting between 0% and 150% of the target number of shares on March 12, 2027.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's securities, ensuring transparency and compliance with SEC regulations.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards like PSUs to align management's interests with shareholder value creation.
• The use of TSR relative to an index like the Russell 2000 is a common benchmark for measuring performance in PSU plans.
• Companies like Verizon and AT&T also use similar performance metrics for executive compensation.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The performance-based restricted stock units align management's interests with shareholder value.

Key Dates