IDT CORP — Director's Dealing 2019

Jun 7, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IDT CORP (IDT)
CIK: 0001005731
Period of Report: 2019-06-05

Reporting Person: WARTELL DAVID (CHIEF TECHNOLOGY OFFICER)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-06-05	Deferred Stock Units	$	A	18000	Acquired	2022-01-05	Class B Common Stock (18000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock, par value $.01 per share	5000	Direct

Footnotes

F1: Consists of 5,000 shares of restricted stock that vest on May 30, 2020.

F2: Represents a grant of 18,000 deferred stock units ("DSUs"). Each DSU is the right to receive between 1/2 of a share and 2 shares of the Issuer's Class B common stock. Vesting is in thirds in January 2020, 2021 and 2022. The number of shares that will actually vest for each DSU depends on the market price for the Class B common stock as of the relevant vesting date. 1/2 of a share will be issued for each DSU if the market price on the vesting date is less than $3.255 (50% of the grant date value of a share of Class B common stock) and 2 shares will be issued for each DSU if the market price on the vesting date is $13.02 (200% of the grant date value) or greater, with a proportionate amount to vest based on thresholds of 62.5%, 75%, 87.5%, 100%, 112.5%, 125%, 137.5%, 150%, 162.5% and 175% of the grant date value. Upon vesting in full, the Reporting Person will be entitled to receive between 9,000 and 36,000 shares of Class B common stock.