Windstream 2013 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 2013 Windstream annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 236

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236

22 |
(2) Unvested shares of restricted stock are deemed beneficially owned because grantees of unvested restricted
stock under Windstream’s equity compensation plans hold the sole right to vote such shares.
(3) Windstream grants performance-based restricted stock units (PBRSUs) to its executive officers. Because
unvested PBRSUs do not provide the recipients the right to vote or other elements of beneficial ownership
as defined under SEC rules and will not vest within 60 days from March 6, 2014, all unvested outstanding
PBRSUs are omitted from this table. For informational purposes, the following table shows the outstanding
unvested PBRSUs granted to each named executive officer:
Named Executive Officers Total Shares
Beneficially Owned
Unvested Performance-
Based Restricted Stock
Units (PBRSUs)
Total Shares
Beneficially Owned
Including PBRSUs
Jeffery R. Gardner 1,793,194 956,945 2,750,139
Anthony W. Thomas 443,831 149,695 593,526
Brent Whittington 589,741 176,902 766,643
John P. Fletcher 483,826 131,357 615,183
J. David Works, Jr. 134,686 76,457 211,143
(4) Includes 20,742 shares held by Mr. Foster’s spouse and by account for grandchildren for which Mr. Foster
serves as custodian. These shares are deemed beneficially owned under SEC rules, but Mr. Foster disclaims
beneficial ownership.
(5) Includes 27,499 shares held in trust for the benefit of Mr. Frantz’s spouse and children. Mr. Frantz’s spouse is
the trustee of the trust. These shares are deemed beneficially owned under SEC rules, but Mr. Frantz disclaims
beneficial ownership.
(6) Includes 39,399 shares held for the benefit of Mr. Gardner’s children and as account custodian. These shares are
deemed beneficially owned under SEC rules, but Mr. Gardner disclaims beneficial ownership.
Security Ownership of Certain Beneficial Owners. Set forth below is information, as of March 1, 2014, with
respect to any person known to Windstream to be the beneficial owner of more than 5% of any class of Windstream’s
voting securities, all of which are shares of Common Stock:
Title of Class Name and Address
of Beneficial Owner Amount and Nature
of Beneficial Ownership Percent of Class
Common Stock Blackrock, Inc. 33,750,618 (1) 5.70%
40 East 52nd Street
New York, NY 10022
Common Stock The Vanguard Group, Inc. 40,552,666 (2) 6.80%
100 Vanguard Blvd.
Malvern, PA 19355
(1) Based upon information contained in Schedule 13G filed on January 17, 2014, Blackrock, Inc. has sole voting
power over 28,583,102 and sole dispositive power over 33,750,618 shares.
(2) Based upon information contained in Schedule 13G filed on February 6, 2014, Vanguard, Inc., has sole voting
power over 969,584 shares, sole dispositive power over 39,675,282 shares, and shared dispositive power over
877,384 shares.