1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Non-Qualified Stock Options (right to purchase)
|
Â
(1)
|
05/15/2022 |
Common Shares, no par value
|
20,000
|
$
51.01
|
D
|
Â
|
Restricted Share Units
|
Â
(2)
|
Â
(2)
|
Common Shares, no par value
|
10,000
(3)
|
$
0
|
D
|
Â
|
* |
If the form is filed by more than one reporting person, see Instruction 5(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). |
(1) |
The options vest 25% per year for 4 years starting from May 15, 2012 ("the vest from date") with the first vest date falling on the first anniversary of "the vest from date," the second vest date falling on the second anniversary of "the vest from date," the third vest date falling on the third anniversary of "the vest from date" and the fourth vest date falling on the fourth anniversary of "the vest from date." |
(2) |
The performance based RSUs are eligible to vest on the achievement of TSR targets ranging from 15% to 45% over a base price of $54.15 on each of three measurement dates: 25% would vest on February, 15, 2015, 50% on May, 15, 2015 and 25% on August, 15, 2015, with early vesting possible at higher TSR levels. |
(3) |
Each Restricted Share Unit ("RSUs") represents a contingent right to receive between zero and three common shares, no par value, of Valeant Pharmaceuticals International, Inc. ("Valeant"), subject to performance based vesting criteria. See note (2). |