1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Non-Qualified Stock Options (right to purchase)
|
Â
(3)
|
08/09/2023 |
Common Shares, no par value
|
22,350
|
$
101.68
|
D
|
Â
|
* |
If the form is filed by more than one reporting person, see Instruction 5(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) |
Includes the maximum number of common shares, no par value ("Common Shares"), of Valeant Pharmaceuticals International, Inc. ("Valeant"), that may be delivered in settlement of 8,475 Restricted Share Units ("RSUs") granted on 8/9/2013, subject to performance-based vesting criteria as described in note (2), and 12,230 RSUs granted on 11/9/2015 subject to continued service with a vesting date of 5/9/2017. |
(2) |
Each performance-based RSU represents a contingent right to receive up to three Common Shares on the achievement of 10 per cent, 20 per cent, and 30 per cent compounded annual share price appreciation (TSR) over a base price of $93.39 on each of the three measurement dates: 25% would vest on 5/9/2016, 50% on 8/9/2016 and 25% on 11/9/2016 (the "Original Vesting Dates"), with early vesting possible at higher TSR levels. If the RSUs do not vest on the Original Vesting Dates, they may become vested on 5/9/2017, 8/9/2017 and 11/9/2017, respectively. At the time of filing, none of these units have vested. |
(3) |
The options were granted on 8/9/2013 and vest in equal installments on each of the first four anniversaries of the date of grant. |