INNOVATE Corp. — Director's Dealing 2010

Mar 5, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PRIMUS TELECOMMUNICATIONS GROUP INC (PMUG)
CIK: 0001006837
Period of Report: 2010-03-04

Reporting Person: SINGH K PAUL (Director, Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-04	Common Stock	M	114928	—	Acquired	114928	Direct
2010-03-04	Common Stock	F	37006	$6.05	Disposed	77922	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-04	Restricted Stock Unit	$6.05	M	114928	Disposed		Common Stock (114928)	Direct

Footnotes

F1: Pursuant to the terms of the Issuer's Management Compensation Plan for the year 2009, shares of common stock underlying performance-based restricted stock units granted on July 1, 2010, were issued on March 4, 2010, in connection with the achievement of the Adjusted EBITDA Target as set forth in the Management Compensation Plan for the year 2009.