Statement of Changes in Beneficial Ownership (4)
February 11 2020 - 5:36PM
Edgar (US Regulatory)
FORM 4
[X]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
VPE Holdings, LLC |
2. Issuer Name and Ticker or Trading Symbol
Vertiv Holdings Co
[
VRT
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
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(Last)
(First)
(Middle)
C/O PLATINUM EQUITY ADVISORS, LLC, 360 NORTH CRESCENT DRIVE, SOUTH BUILDING |
3. Date of Earliest Transaction
(MM/DD/YYYY)
2/7/2020 |
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(Street)
BEVERLY HILLS, CA 90210
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
___ Form filed by One Reporting Person
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X
_ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code
(Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) | 8. Price of Derivative Security
(Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
| Stock Options | $12.05 | 2/7/2020 | | A | | 77294 | | (1) | 2/6/2030 | Class A Common Stock | 77294 | $0.00 | 77294 | I | See Footnotes (2)(3)(4)(5)(6) |
| Explanation of Responses: |
| (1) | Consists of options to purchase shares of Class A common stock of Vertiv Holdings Co (the "Issuer"), subject to vesting in equal or nearly equal installments on February 7 of each of 2021, 2022, 2023 and 2024, granted to Jacob Kotzubei and Matthew Louie, assuming continued board service through the applicable vesting date. Options to purchase 38,647 shares of Class A common stock of the Issuer were granted to each of Messrs. Kotzubei and Louie. |
| (2) | Pursuant to a contractual agreement between Messrs. Kotzubei and Louie, on the one hand, and VPE Holdings, LLC ("VPE"), on the other hand, the shares of Class A common stock of the Issuer issuable to Messrs. Kotzubei and Louie upon exercise of such stock options will be immediately transferred to VPE in a transaction exempt from Section 16 pursuant to Rule 16a-13 thereunder. |
| (3) | Vertiv JV Holdings, LLC ("JV") owns a majority of the outstanding equity interests of VPE, and PE Vertiv Holdings, LLC ("PE Vertiv") owns a majority of the outstanding interests of JV, and, accordingly, each may be deemed to beneficially own the shares of Class A common stock beneficially owned by VPE. PE Vertiv is directly owned by six private equity investment funds, none of which private equity investment funds individually has the power to direct the voting or disposition of shares beneficially owned. Platinum Equity Investment Holdings III, LLC ("Holdings III") is the managing member of one of such funds and the managing member of the general partner of four of such funds. Through such positions, Holdings III has the indirect power to direct the voting of a majority of the outstanding equity interests of PE Vertiv. |
| (4) | (Continued from Footnote 3) Platinum Equity Investment Holdings Manager III, LLC ("Holdings Manager") is the managing member of Holdings III. Platinum Equity, LLC ("Platinum") is sole member of Holdings Manager and indirectly controls Platinum Equity Capital Partners IV, L.P. ("Capital IV"), which is the other private equity investment fund that owns equity interests of PE Vertiv. Mr. Tom Gores (together with VPE, JV, PE Vertiv, Holdings III and Holdings Manager, the "Reporting Persons") is the beneficial owner of Platinum and the manager of the general partner of the general partner of Capital IV. Accordingly, as a result of their indirect ownership and control of each of VPE, JV and PE Vertiv, each of Holdings III, Holdings Manager, Platinum and Mr. Tom Gores may be deemed to beneficially own the shares owned directly by VPE. |
| (5) | Because of the relationship among the Reporting Persons, the Reporting Persons may be deemed to beneficially own the securities reported herein to the extent of their respective pecuniary interests. Each Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein, if any. |
| (6) | Pursuant to Rule 16a-1(a)(4) under the Exchange Act, this filing shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owners of any equity securities in excess of their respective pecuniary interests. |
Remarks:
VPE, which is indirectly controlled by Tom Gores as described in footnotes 3-5, is party to a Stockholders Agreement with the Issuer which gives VPE the right to nominate up to four directors to the Issuer's board of directors, subject to certain ownership thresholds. Jacob Kotzubei and Matthew Louie serve on the Issuer's board of directors pursuant to this right. Each of Messrs. Kotzubei and Louie is a Partner of Platinum Equity. Accordingly, Messrs. Kotzubei and Louie may be determined to represent the interests of the Reporting Persons on the Board of Directors of the Issuer, and accordingly, the Reporting Persons may be deemed to be directors for purposes of Section 16 of the Securities Exchange Act of 1934, as amended. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
VPE Holdings, LLC
C/O PLATINUM EQUITY ADVISORS, LLC
360 NORTH CRESCENT DRIVE, SOUTH BUILDING
BEVERLY HILLS, CA 90210 | X | X |
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Vertiv JV Holdings, LLC
C/O PLATINUM EQUITY ADVISORS, LLC
360 NORTH CRESCENT DRIVE, SOUTH BUILDING
BEVERLY HILLS, CA 90210 | X | X |
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PE Vertiv Holdings, LLC
C/O PLATINUM EQUITY ADVISORS, LLC
360 NORTH CRESCENT DRIVE, SOUTH BUILDING
BEVERLY HILLS, CA 90210 | X | X |
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Platinum Equity Investment Holdings III, LLC
C/O PLATINUM EQUITY ADVISORS, LLC
360 NORTH CRESCENT DRIVE, SOUTH BUILDING
BEVERLY HILLS, CA 90210 | X | X |
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Platinum Equity Investment Holdings III Manager, LLC
C/O PLATINUM EQUITY ADVISORS, LLC
360 NORTH CRESCENT DRIVE, SOUTH BUILDING
BEVERLY HILLS, CA 90210 | X | X |
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PLATINUM EQUITY LLC
C/O PLATINUM EQUITY ADVISORS, LLC
360 NORTH CRESCENT DRIVE, SOUTH BUILDING
BEVERLY HILLS, CA 90210 | X | X |
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Gores Tom
C/O PLATINUM EQUITY ADVISORS, LLC
360 NORTH CRESCENT DRIVE, SOUTH BUILDING
BEVERLY HILLS, CA 90210 | X | X |
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Signatures
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| /s/ Mary Ann Sigler, Attorney-in-Fact for VPE Holdings, LLC | | 2/10/2020 |
| **Signature of Reporting Person | Date |
| /s/ Mary Ann Sigler, Attorney-in-Fact for Vertiv JV Holdings, LLC | | 2/10/2020 |
| **Signature of Reporting Person | Date |
| /s/ Mary Ann Sigler, Attorney-in-Fact for PE Vertiv Holdings, LLC | | 2/10/2020 |
| **Signature of Reporting Person | Date |
| /s/ Mary Ann Sigler, Attorney-in-Fact for Platinum Equity Investment Holdings III, LLC | | 2/10/2020 |
| **Signature of Reporting Person | Date |
| /s/ Mary Ann Sigler, Attorney-in-Fact for Platinum Equity Investment Holdings Manager III, LLC | | 2/10/2020 |
| **Signature of Reporting Person | Date |
| /s/ Mary Ann Sigler, Attorney-in-Fact for Platinum Equity, LLC | | 2/10/2020 |
| **Signature of Reporting Person | Date |
| /s/ Mary Ann Sigler, Attorney-in-Fact for Tom Gores | | 2/10/2020 |
| **Signature of Reporting Person | Date |
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