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
|
11,734
|
$
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 Restricted Share Units ("RSUs") representing contingent rights to receive up to 16,681 shares of common stock, no par value, of Valeant Pharmaceuticals International, Inc ("Shares"). RSUs representing 7,925 Shares will vest 1/3 per year over 3 years starting from November 20, 2014 ("the equity grant date") with the first vest date falling on the first anniversary of the equity grant date, the second vest date falling on the second anniversary of equity grant date and the third vest date falling on the third anniversary of the equity grant date. The RSUs representing the remaining 8,756 Shares are subject to performance based vesting criteria described below. |
(2) |
The performance based RSUs described in footnote 1 initially represented contingent rights to receive between zero and three common shares and were eligible to vest on the achievement of TSR targets ranging from 10% to 30% over a base price of $93.39 on each of three measurement dates: 25% would vest on May 9, 2016, 50% on August 9, 2016 and 25% on November 9, 2016, with early vesting possible at higher TSR levels. Each of those performance based RSUs previously vested for two Shares on the basis of earlier achieved TSR levels and now represents only a contingent right to one additional share, subject to the applicable performance criteria. |
(3) |
The options vest 25 percent per year over 4 years starting from August 9, 2013 ("the equity grant date") with the first vest date falling on the first anniversary of the equity grant date, the second vest date falling on the second anniversary of equity grant date, the third vest date falling on the third anniversary of the equity grant date and the fourth vest date falling on the fourth anniversary of the equity grant date. |