FairPoint Communications 2007 Annual Report Download - page 48
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Table of Contents
• restrictions on our ability to pay dividends beginning with the third full fiscal quarter following the closing of the merger if we are
unable to satisfy specified financial ratio tests set forth in the orders;
• a requirement that we limit the cumulative amount of our dividend to not more than the cumulative adjusted free cash flow
generated by us after the closing of the merger; and
• a requirement that if on December 31, 2011, our total indebtedness to adjusted EBITDA is 3.6 or higher, then we will reduce our
debt by $150 million by December 31, 2012, and if our debt is not reduced by $150 million by December 31, 2012, then we
will suspend the payment of dividends until the debt under the new credit facility is refinanced.
The table below provides information, as of the end of the most recently completed fiscal year, concerning securities authorized for
issuance under our equity compensation plans.
Equity compensation plans approved by our
stockholders 292,009 $ 32.39 274,276
Equity compensation plans not approved by our
stockholders 0 $ 0 0
Total 292,009 $ 32.39 274,276
(1) Includes 47,373 options to purchase shares of our common stock under the FairPoint Communications, Inc. (formerly MJD
Communications, Inc.) 1998 Stock Incentive Plan, 208,687 options to purchase shares of our common stock under the FairPoint
Communications, Inc. 2000 Employee Stock Incentive Plan, 7,273 restricted stock units granted under the FairPoint
Communications, Inc. 2000 Employee Stock Incentive Plan and 28,676 restricted units granted under the FairPoint
Communications, Inc. 2005 Stock Incentive Plan.
(2) Includes 274,276 shares under the FairPoint Communications, Inc. 2005 Stock Incentive Plan. Available shares shown above for
the FairPoint Communications, Inc. 2005 Stock Incentive Plan include shares that have become available due to forfeitures or have
been re-acquired by the Company for any reasons without delivery of the stock, as allowed under the terms of the plan.
None of our equity securities registered pursuant to Section 12 of the Exchange Act were purchased by us or affiliated purchasers,
as defined in Rule 10b-18(a)(3) under the Exchange Act, during 2007.
We did not sell any unregistered equity securities during 2007.
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