Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 87

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 87
---
 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 MC PSU immediately prior to the Closing after giving effect to the consummation of the Transactions. At the Closing, each PSU that is not an MC PSU that is outstanding immediately prior to the Closing will, at the Closing, be automatically cancelled and converted into the right to receive from Intelsat, in connection with the Liquidation, (i) cash (without interest, 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