Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 91

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 91
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 and subject to deduction for any required withholding tax) equal to the product of (A) the number of Intelsat common shares subject to such PSU immediately prior to the Closing based on the attainment of the greater of the (x) target or (y) actual level of performance (as set forth in the applicable award document), as measured immediately prior to the Closing by the Intelsat Board or a committee thereof, multiplied by (B) the per share cash consideration determined to be distributable to Intelsat’s shareholders in connection with the Liquidation, (ii) any accrued dividend equivalents attributable thereto and (iii) a number of CVRs (subject to reduction for any required withholding tax) equal to the number of Intelsat common shares subject to such PSU immediately prior to the Closing based on the attainment of the greater of the (A) target or (B) actual level of performance (as set forth in the applicable award document) as measured immediately prior to the Closing by the Intelsat Board or a committee thereof. Quantification of Intelsat Equity Awards At the Closing, each RSU held by non-employeedirectors of Intelsat will convert into per share cash consideration in the manner described above. Based on the assumptions described above under the section of this prospectus captioned “— Certain Assumptions,” the estimated aggregate amount that would become payable to five of Intelsat’s six non-employeedirectors in respect of their RSUs is $315,850. As an employee of an Intelsat shareholder, Mr. Simpson does not hold any RSUs. No grants of RSUs are expected to be made by Intelsat to the non-employeedirectors following the date of this prospectus. At the Closing, each RSU and MC PSU held by executive officers will convert into per share cash consideration in the manner described above. Based on the assumptions described above under the section of this prospectus captioned “— Certain Assumptions,” the estimated aggregate amounts that would become payable to Intelsat’s current executive officers in respect of their unvested RSUs is $787,747, and unvested MC PSUs is $32,629,683. Potential Severance Payments Upon a Qualifying Termination Prior to or Following the Closing Employment Agreements Intelsat entered into employment agreements with each of its current executive officers (the “Executive Agreements”) that generally provide that if an executive officer is terminated by Intelsat without cause or by the executive officer for