IDT CORP — Director's Dealing 2020

Jan 8, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IDT CORP (IDT)
CIK: 0001005731
Period of Report: 2020-01-06

Reporting Person: WARTELL DAVID (CHIEF TECHNOLOGY OFFICER)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-06	Class B Common Stock, par value $.01 per share	M	6000	—	Acquired	11000	Direct
2020-01-06	Class B Common Stock, par value $.01 per share	F	2296	$7.12	Disposed	8704	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-06	Deferred Stock Units	$	M	6000	Disposed	2022-01-05	Class B Common Stock (6000)	Direct

Footnotes

F1: Of the 6,000 deferred stock units ("DSUs") that were eligible to vest on January 6, 2020, the Reporting Person elected to vest all such DSUs on January 6, 2020 and not roll any such DSUs to the next vesting date on January 5, 2021. The Reporting Person received one share of Class B Common Stock for each DSU that he elected to vest (100%) because the market price for the Company's Class B common stock on the vesting date was $7.12, which exceeded the grant date fair market value of $6.51 and was less than the next threshold of $7.32, which would have vested 112.5% of the DSUs instead of 100%.

F2: Consists of 5,000 shares of Restricted Stock that vest on May 30, 2020 and 6,000 fully vested shares of Class B Common Stock issued upon the conversion of DSUs.

F3: Represents shares withheld by the Issuer for tax purposes upon vesting of DSUs.

F4: Consists of 5,000 shares of Restricted Stock that vest on May 30, 2020 and 3,704 fully vested shares of Class B Common Stock issued upon the conversion of DSUs.