UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 5, 2023 (May 4, 2023)
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| Altice USA, Inc. |
| (Exact Name of Registrant as Specified in its Charter) |
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| Delaware |
| (State of Incorporation) |
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| 001-38126 | | 38-3980194 |
| (Commission File Number) | | (IRS Employer Identification Number) |
|
| 1 Court Square West | | |
| Long Island City, | New York | | 11101 |
| (Address of principal executive offices) | | (Zip Code) |
(516) 803-2300
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. ☐ | | | | | | | | |
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Class A Common Stock, par value $0.01 per share | ATUS | New York Stock Exchange |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 4, 2023, Michael E. Olsen, Executive Vice President, General Counsel of Altice USA, Inc. (the “Company”), was promoted to become the Company’s General Counsel & Chief Corporate Responsibility Officer. In connection with his expanded role, the Compensation Committee approved an increase of Mr. Olsen’s annual salary to $500,000 in May 2023, his target annual long-term incentive was increased to $2,750,000 for 2023 (an incremental grant for 2023 with a grant date fair value of $750,000 on terms and conditions consistent with grants made to executives in March 2023 will be made to him in June 2023), and he received a one-time cash bonus in the amount of $100,000 payable in May 2023. Mr. Olsen’s salary will be increased to $575,000 effective March 1, 2024, and his 2024 target annual long-term incentive will be $3,000,000. His target annual cash incentive award will continue to be 100% of salary actually paid in the respective calendar year.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| ALTICE USA, INC. |
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| Dated: May 5, 2023 | By: | /s/ Michael E. Olsen |
| | Michael E. Olsen |
| | General Counsel & Chief Corporate Responsibility Officer |
