Form Type: 4

SEC EDGAR Link
Accession Number:0000950142-22-001657
Date:2022-05-12
Issuer: HEMISPHERE MEDIA GROUP, INC. (HMTV)
Original Submission Date:

Reporting Person:

GUAJARDO ERNESTO VARGAS
C/O HEMISPHERE MEDIA GROUP, INC.
4000 PONCE DE LEON BLVD, SUITE 650 CORAL GABLES, FL 33146

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
CLASS A COMMON STOCK 2022-05-12 A 14,993 a $0.00 90,457 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
Footnotes
IDfootnote
f1 represents restricted shares of hemisphere media group, inc. (the "company") class a common stock, par value $0.0001 per share ("common stock") granted to the reporting person in connection with his service on the company's board of directors pursuant to the hemisphere media group, inc. amended and restated 2013 equity incentive plan. the number of restricted shares was calculated by dividing $100,000 by the closing share price of the common stock on may 12, 2022 (the "date of grant"). the restricted stock will vest on the day preceding the company's 2023 annual meeting, subject to the reporting person's continued service as a director on such vesting date; provided, however, that in accordance with the terms of that certain agreement and plan of merger (the "merger agreement") filed by the company on its current report on form 8-k filed with the sec on may 9, 2022, the restricted stock shall vest at the effective time (as defined in the merger agreement) of the company (cont'd in fn2)
f2 (cont'd from fn1) merger (as defined in the merger agreement) solely on a pro-rated basis and be treated in accordance with section 3.05(b) of the merger agreement in the event the merger agreement and the transactions contemplated thereby, including the mergers (as defined in the merger agreement) are approved and adopted by the stockholders of the company, and any remaining shares of restricted stock (after taking into account such pro-rated vesting) shall be cancelled and terminated at the effective time without payment therefor. for purposes of the immediately preceding sentence, proration shall be calculated by multiplying the number of shares of restricted stock at the effective time by a fraction (x) the numerator of which is the number of days that have elapsed during the period that begins on the date of grant and ends on the closing date (as defined in the merger agreement) and (y) the denominator of which is 365. if the foregoing (cont'd in fn3)
f3 (cont'd from fn2) formula results in vesting of a fractional share, the number of shares that vest on a pro-rated basis shall be rounded down to the nearest whole share.
f4 such amount may be reduced at the effective time in accordance with note 1 above.
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