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"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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| 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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
| ( 1 )The Issuer's annual performance award program includes a shareholder incentive program that allows participants, including the Reporting Person, to receive up to 100% of their annual performance awards in common shares of the Issuer in lieu of cash; thereby, aligning our employees' interests and our shareholders. These shares represent the Reporting Person's election to receive such common shares in respect of his 2020 annual performance award (the Bonus Shares).|
( 2 )The price reflects a weighted average of sales made at prices ranging from $13.995 to $14.36. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, information regarding the number of shares purchased at each separate price.
( 3 )Each Restricted Share Unit represents a right to receive one share of the Issuer's Class A common shares or Class C common shares, as the case may be, at settlement.
( 4 )Based on the Reporting Person's share election described in footnote 1, the Reporting Person also received RSUs equal to 12.5% of the Bonus Shares pursuant to the shareholder incentive program of the 2019 annual performance award program. These RSUs will vest in full on March 1, 2022, provided that the Reporting Person does not sell, transfer or otherwise dispose of the Bonus Shares through such date.
The trading symbols for the Issuer's classes of common shares are LILA, LILAB, and LILAK.
|* 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).|