Sec Form 4 Filing - KARDOUS ABDO @ Hill International, Inc. - 2022-02-14

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
KARDOUS ABDO
2. Issuer Name and Ticker or Trading Symbol
Hill International, Inc. [ HIL]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Reg President (Middle East)
(Last) (First) (Middle)
C/O HILL INTERNATIONAL, INC., 2005 MARKET STREET, 17TH FL
3. Date of Earliest Transaction (MM/DD/YY)
02/14/2022
(Street)
PHILADELPHIA, PA19103
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 Stock 12/27/2022 D 129,144 D $ 3.4( 1 )( 2 ) 0 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: 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 Stock Units ( 3 ) 02/14/2022 A 39,267 ( 4 ) ( 4 ) Common Stock 39,267 $ 0 39,267 D
Restricted Stock Units ( 5 )( 6 ) 12/27/2022 D 11,434( 5 ) ( 5 ) ( 5 ) Common Stock 11,432 ( 5 ) 0 D
Restricted Stock Units ( 5 )( 7 ) 12/27/2022 D 11,432( 5 ) ( 5 ) ( 5 ) Common Stock 11,432 ( 5 ) 0 D
Restricted Stock Units ( 5 )( 6 ) 12/27/2022 D 31,915( 5 ) ( 5 ) ( 5 ) Common Stock 31,914 ( 5 ) 0 D
Restricted Stock Units ( 5 )( 7 ) 12/27/2022 D 15,958( 5 ) ( 5 ) ( 5 ) Common Stock 15,958 ( 5 ) 0 D
Restricted Stock Units ( 5 )( 6 ) 12/27/2022 D 39,267( 5 ) ( 5 ) ( 5 ) Common Stock 39,267 ( 5 ) 0 D
Restricted Stock Units ( 5 )( 7 ) 12/27/2022 D 39,267( 5 ) ( 5 ) ( 5 ) Common Stock 39,267 ( 5 ) 0 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
KARDOUS ABDO
C/O HILL INTERNATIONAL, INC.
2005 MARKET STREET, 17TH FL
PHILADELPHIA, PA19103
Reg President (Middle East)
Signatures
/s/ Abdo Kardous 12/27/2022
Signature of Reporting Person Date
Explanation of Responses:
( 1 )This Form 4 reports securities disposed of pursuant to the terms of the Amended and Restated Agreement and Plan of Merger, dated August 26, 2022 (the "Merger Agreement"), by and among Hill International, Inc. (the "Company"), Global Infrastructure Solutions Inc. ("Parent") and Liberty Acquisition Sub Inc., a wholly owned subsidiary of Parent ("Merger Sub"), a copy of which was filed as Exhibit 2.1 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on August 29, 2022.
( 2 )Pursuant to the Merger Agreement, on December 27, 2022, Merger Sub was merged with and into the Company (the "Merger") with the Company surviving the Merger as the surviving corporation and an indirect wholly owned subsidiary of Parent. At the effective time of the Merger (the "Effective Time"), each share of common stock, par value $0.0001 per share, of the Company ("Common Stock") issued and outstanding immediately prior to the Effective Time (other than (A) shares of Common Stock (1) held in the treasury of the Company or (2) owned by Parent or Merger Sub or any direct or indirect wholly owned subsidiaries of Parent, Merger Sub or the Company and (B) the Appraisal Shares (as defined in the Merger Agreement), was automatically converted into the right to receive an amount in cash equal to $3.40, without interest (such amount of cash, the "Merger Consideration").
( 3 )Grant of restricted stock units (each, a "RSU"), under the Hill International, Inc. 2017 Equity Compensation Plan. Each RSU represents a contingent right to receive one share of the Issuer's common stock.
( 4 )On February 14, 2022, the reporting person was granted 39,267 RSUs, vesting over time in three equal portions on the first, second, and third anniversaries of the grant date, provided the reporting person is then an employee of the Company. Reported late due to the Company's failure to timely advise the reporting person that it had inadvertently omitted to timely file a Form 4 at the time when the transaction occurred.
( 5 )Pursuant to the Merger Agreement, effective upon the Effective Time, each unvested RSU that was outstanding immediately prior to the Effective Time became fully vested, in the case of a time-based vesting RSU, or became vested at the target level of performance, in the case of a performance based vesting RSU, and was cancelled and extinguished and, in exchange therefore, was automatically converted into the right to receive an amount in cash, without interest, equal to the product of (A) the number of shares of Common Stock subject to such RSU and (B) the Merger Consideration.
( 6 )Time-based vesting RSU. Each time-based vesting RSU represents a contingent right to receive one share of Common Stock.
( 7 )Performance-based vesting RSU. Each performance-based vesting RSU represents a contingent right to receive one share of Common Stock.

Remarks:
In connection with the transaction contemplated by the Merger Agreement, the reporting person ceased to be a Section 16 reporting person.

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