Intelsat (INTEQ) Form 4 Intelsat / Bruno Fromont ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Fromont Bruno

(Last) (First) (Middle)

C/O INTELSAT S.A.

4, RUE ALBERT BORSCHETTE

(Street)

LUXEMBOURG N4 L-1246

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Intelsat S.A. [ INTEQ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
SVP, Strategy and Planning

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares								53,017	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Units	(1)	04/30/2020		D			12,000	(2)	(2)	Common shares	12,000	(2)	0	D
Restricted Share Units	(1)							(3)	(3)	Common shares	4,000		4,000	D
Restricted Share Units	(1)							(4)	(4)	Common shares	16,668		16,668	D
Restricted Share Units	(1)							(5)	(5)	Common shares	7,000		7,000	D
Restricted Share Units	(1)							(6)	(6)	Common shares	4,112		4,112	D
Options (Right to Buy)	$3.77(7)							(7)	(7)	Common shares	20,000		20,000	D
Options (Right to Buy)	$3.77(7)							(7)	(7)	Common shares	5,000		5,000	D

Explanation of Responses:

1. Each restricted share unit ("RSU") represents a contingent right to receive one Common Share.

2. On April 30, 2020 the RSUs granted on March 1, 2020 were cancelled. In exchange, the reporting person received a new performance-based incentive arrangement providing for the payment in cash of up to 82% of the grant date value of the RSUs, portions of which are to be received based upon achievement of objective performance criteria to be established by the Company's Compensation Committee.

3. The RSUs will vest on September 30, 2020.

4. The RSUs will vest on October 1, 2020.

5. The RSUs will vest on March 1, 2021.

6. The RSUs vest in two equal annual installments, beginning March 1, 2021.

7. The options are fully vested and exercisable.

Remarks:

	/s/ Sajid Ajmeri, Attorney-in-fact	05/27/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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