INNOVATE Corp. — Director's Dealing 2011

Jul 8, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PRIMUS TELECOMMUNICATIONS GROUP INC (PTGI)
CIK: 0001006837
Period of Report: 2011-07-05

Reporting Person: SCHWARZ KEN (CFO (PFO); SVP, IT)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-07-05	Common Stock	A	11404	—	Acquired	11404	Direct
2011-07-05	Common Stock	A	15000	—	Acquired	26404	Direct

Footnotes

F1: The common stock reported represents the grant of restricted stock units that vest as to one-third of the shares on 12/31/2011, one-third of the shares on 12/31/2012, and one-third of the shares on 12/31/2013.

F2: The common stock reported represents the grant of restricted stock units that vest as to one-third of the shares if PTGI's stock price closes at or above $18 on or prior to 4/15/2014, one-third of the shares if PTGI's stock price closes at or above $24 on or prior to 4/15/2014, and one-third of the shares if PTGI's stock price closes at or above $30 on or prior to 4/15/2014.