ADT Inc.d18rn0p25nwr6d.cloudfront.net/CIK-0001703056/b85ae1dd-a...ADT Inc., a Delaware corporation,...
Transcript of ADT Inc.d18rn0p25nwr6d.cloudfront.net/CIK-0001703056/b85ae1dd-a...ADT Inc., a Delaware corporation,...
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As filed with the Securities and Exchange Commission on March 22, 2019Registration No. 333-
UNITED STATESSECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-3
REGISTRATION STATEMENTUNDER
THE SECURITIES ACT OF 1933
ADT Inc.(Exact name of registrant as specified in its charter)
Delaware 47-4116383(State or other jurisdiction of
incorporation or organization) (I.R.S. Employer
Identification Number)1501 Yamato Road
Boca Raton, FL 33431(561) 322-7235
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
James D. DeVries
Chief Executive Officerc/o ADT Inc.
1501 Yamato RoadBoca Raton, FL 33431
(561) 322-7235
Copies of Communications to:
Tracey A. Zaccone, Esq.Paul, Weiss, Rifkind, Wharton & Garrison LLP
1285 Avenue of the AmericasNew York, New York 10019
(212) 373-3000(Name, address, including zip code, and telephone number, including area code, of agent for service)
From time-to-time following effectiveness of this Registration Statement.
(Approximate date of commencement of proposed sale to the public)IftheonlysecuritiesbeingregisteredonthisFormarebeingofferedpursuanttodividendorinterestreinvestmentplans,pleasecheckthefollowingbox:☒IfanyofthesecuritiesbeingregisteredonthisFormaretobeofferedonadelayedorcontinuousbasispursuanttoRule415undertheSecuritiesActof1933,otherthansecuritiesofferedonlyinconnectionwithdividendorinterestreinvestmentplans,checkthefollowingbox:☐IfthisFormisfiledtoregisteradditionalsecuritiesforanofferingpursuanttoRule462(b)undertheSecuritiesAct,pleasecheckthefollowingboxandlisttheSecuritiesActregistrationstatementnumberoftheearliereffectiveregistrationstatementforthesameoffering.☐IfthisFormisapost-effectiveamendmentfiledpursuanttoRule462(c)undertheSecuritiesAct,checkthefollowingboxandlisttheSecuritiesActregistrationstatementnumberoftheearliereffectiveregistrationstatementforthesameoffering.☐IfthisFormisaregistrationstatementpursuanttoGeneralInstructionI.D.orapost-effectiveamendmenttheretothatshallbecomeeffectiveuponfilingwiththeCommissionpursuanttoRule462(e)undertheSecuritiesAct,checkthefollowingbox.☐IfthisFormisapost-effectiveamendmenttoaregistrationstatementfiledpursuanttoGeneralInstructionI.D.filedtoregisteradditionalsecuritiesoradditionalclassesofsecuritiespursuanttoRule413(b)undertheSecuritiesAct,checkthefollowingbox.☐Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,asmallerreportingcompany,oranemerginggrowthcompany.Seethedefinitionsof“largeacceleratedfiler,”“acceleratedfiler,”“smallerreportingcompany”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct.
Largeacceleratedfiler ☐ Acceleratedfiler ☐Non-acceleratedfiler ☒ Smallerreportingcompany ☐
Emerginggrowthcompany ☐Ifanemerginggrowthcompany,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancial
accountingstandardsprovidedpursuanttoSection7(a)(2)(B)ofSecuritiesAct.☐
CALCULATION OF REGISTRATION FEE
Title of each class ofsecurities to be registered
Amount to be
registered(1)
Proposed maximum
offering price per share(2)
Proposed maximum aggregate
offering price(2) Amount of
registration feeCommonStock,parvalue$0.01pershare 18,750,000 $6.362 $119,287,500 $14,457.65
(1) PursuanttoRule416undertheSecuritiesActof1933,asamended(the“SecuritiesAct”),thisRegistrationStatementshallbedeemedtocoveranindeterminatenumberofadditionalsecuritiestobeofferedasaresultofsharesplits,sharedividendsorsimilartransactionswithrespecttothesharesofcommonstockbeingregisteredpursuanttothisregistrationstatement.
(2) EstimatedsolelyforthepurposeofcomputingtheregistrationfeeinaccordancewithRule457(c)undertheSecuritiesAct.TheofferingpriceandregistrationfeearebasedupontheaverageofthehighandlowsalepricesforthesharesofcommonstockofADTInc.reportedbytheNewYorkStockExchangeonMarch15,2019.
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PROSPECTUS
ADT Inc.DIVIDEND REINVESTMENT PLAN
18,750,000 Shares of Common Stock
WeareofferingtoourstockholdersofrecordtheopportunitytopurchasesharesofourcommonstockthroughourDividendReinvestmentPlan(the“Plan”).ThePlanprovidesyouwithaconvenientmethodofpurchasingcommonstockatmarketpriceswithouthavingtopayanyserviceorprocessingfees.IfyouelecttoparticipateinthePlan,youmayhaveyourcashdividendsautomaticallyreinvestedinadditionalsharesofcommonstock.
ToparticipateinthePlan,youmayvisitAST’swebsite,https://us.astfinancial.com/InvestOnline/Invest/AllPlan,andfollowtheinstructionsprovided,oryoumaycomplete,signandmailanenrollmentformto:
AmericanStockTransfer&TrustCompany,LLCP.O.Box922
WallStreetStationNewYork,NY10269-0560
StockholderswhodonotwishtoparticipateinthePlanwillreceivecashdividends,asdeclared.
WewillissuenewsharesofourcommonstocktomeettherequirementsofthePlan.ThepurchasepriceofsharesofcommonstockpurchasedfromuspursuanttothePlanwithreinvesteddividendswillbeequalto100%oftheweightedaverageofthehighandlowsalespriceofoursharesofcommonstockontheNewYorkStockExchange(“NYSE”)onthefivetradingdaysprecedingtherelevantcashdividendpaymentdate.
Ourboardofdirectorsmay,initssolediscretion,atanytime,witheffectatthetimeofdeclarationofthenextdividendpayment,determinetochangetheplan,includingbychangingthethen-applicablediscount,orterminatetheplanaltogether.
Wearecurrentlya“controlledcompany”underthecorporategovernancerulesforNewYorkStockExchange-listedcompaniesandareexemptfromcertaincorporategovernancerequirementsoftherules.See“RiskFactors.”OursharesofcommonstockarelistedontheNewYorkStockExchange,orthe“NYSE,”underthesymbol“ADT.”
YourparticipationinthePlanisvoluntary,andyoumayterminateyourparticipationatanytime.YoushouldreadthisprospectuscarefullysoyouwillknowhowourPlanworksandthenretainitforfuturereference.Investing in our shares ofcommon stock involves risks that are described in the “ Risk Factors ” section beginning on page 2 of this prospectusand “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2018, which isincorporated by reference into this prospectus.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities ordetermined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus is March 22, 2019.
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TABLE OF CONTENTSABOUTTHISPROSPECTUS iiINCORPORATIONOFDOCUMENTSBYREFERENCE iiiWHEREYOUCANFINDMOREINFORMATION ivCAUTIONARYNOTEREGARDINGFORWARD-LOOKINGSTATEMENTS vADTINC. 1RISKFACTORS 2THEPLAN 3USEOFPROCEEDS 9MATERIALU.S.FEDERALINCOMETAXCONSIDERATIONS 10PLANOFDISTRIBUTION 15LEGALMATTERS 16EXPERTS 16SIGNATURES II-5POWEROFATTORNEY II-5
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ABOUT THIS PROSPECTUS
Tounderstandthetermsofthesecuritiesofferedbythisprospectus,youshouldcarefullyreadthisprospectus.Youshouldalsoreadthedocumentsreferredtoundertheheading“WhereYouCanFindMoreInformation”forinformationonusandthebusinessconductedbyus.
ThisprospectusispartofaregistrationstatementonFormS-3thatADTInc.,aDelawarecorporation,hasfiledwiththeU.S.SecuritiesandExchangeCommission(the“SEC”).Unlessotherwiseindicatedorthecontextotherwiserequires,referencesinthisregistrationstatementonFormS-3to(i)“we,”“our,”“us,”“ADT,”andthe“Company”refertoADTInc.,aDelawarecorporation(formerlynamedPrimeSecurityServicesParent,Inc.)andeachofitsconsolidatedsubsidiaries,and(ii)“Apollo”referstoApolloGlobalManagement,LLC,itssubsidiariesanditsaffiliates.
THE SECURITIES OFFERED HEREBY HAVE NOT BEEN RECOMMENDED BY ANY UNITED STATES FEDERAL OR STATESECURITIES COMMISSION OR REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOTCONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS DOCUMENT. ANY REPRESENTATION TO THECONTRARY IS A CRIMINAL OFFENSE.
Wehavenotauthorizedanyonetoprovideyouwithinformationortomakeanyrepresentationsaboutanythingnotcontainedinthisprospectusorthedocumentsincorporatedbyreferenceinthisprospectus.Youmustnotrelyonanyunauthorizedinformationorrepresentations.
Thisprospectusdoesnotconstituteanoffertosellorthesolicitationofanoffertobuyanysecuritiesotherthantheregisteredsecuritiestowhichtheyrelate.Thedistributionofthisprospectusandtheofferingandsaleofthesharesofcommonstockincertainjurisdictionsmayberestrictedbylaw.Werequirepersonsintowhosepossessionthisprospectuscomestoinformthemselvesaboutandtoobserveanysuchrestrictions.Thisprospectusdoesnotconstituteanofferof,oraninvitationtopurchase,anysharesofcommonstockinanyjurisdictioninwhichsuchofferorinvitationwouldbeunlawful.
The information contained or incorporated by reference in this prospectus is accurate as of the dates of the applicable documents. Ourbusiness, financial condition, results of operations and prospects may have changed since the applicable dates. When this prospectus is delivered orsale pursuant to this prospectus is made, we are not implying that the information is current as of the date of the delivery or sale.
You should not consider any information in this prospectus or in the documents incorporated by reference herein to be investment, legal ortax advice. We encourage you to consult your own counsel, accountant and other advisors for legal, tax, business, financial and related adviceregarding an investment in our shares of common stock under the Plan.
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INCORPORATION OF DOCUMENTS BY REFERENCE
Inthisprospectus,we“incorporatebyreference”certaininformationthatwefilewiththeSEC,whichmeansthatwecandiscloseimportantinformationtoyoubyreferringyoutothatinformation.Theinformationweincorporatebyreferenceisanimportantpartofthisprospectus,andlaterinformationthatwefilewiththeSECwillautomaticallyupdateandsupersedethisinformation.ThefollowingdocumentshavebeenfiledbyuswiththeSECandareincorporatedbyreferenceintothisprospectus:
• OurAnnualReportonForm10-KforthefiscalyearendedDecember31,2018,filedwiththeSEConMarch11,2019(the“2018AnnualReport”);
• OurCurrentReportsonForm8-KfiledwiththeSEConJanuary2,2019,February1,2019,March11,2019,March18,2019andMarch21,2019(ineachcase,otherthaninformationfurnishedpursuanttoItem2.02orItem7.01ofanysuchCurrentReportonForm8-K);
• AlldocumentsfiledbytheCompanyunderSections13(a),13(c),14or15(d)oftheSecuritiesExchangeActof1934,asamended(the
“ExchangeAct”),afterthedateofthisprospectusandbeforetheterminationoftheofferingtowhichthisprospectusrelates(otherthaninformationfurnishedpursuanttoItem2.02orItem7.01ofanyCurrentReportonForm8-K,unlessexpresslystatedotherwisetherein);
• ThedescriptionofourcommonstocksetforthinourregistrationstatementfiledonForm8-ApursuanttoSection12oftheSecurities
ExchangeActof1934,asamended(the“ExchangeAct”),withtheSEConJanuary18,2018,andanyamendmentorreportfiledforthepurposeofupdatingthatdescription;and
• TheADTCorporation’s(a)UnauditedInterimCondensedConsolidatedFinancialStatementsfortheperiodsendedMarch31,2016andMarch27,2015and(b)theAuditedConsolidatedFinancialStatementsfortheyearsendedSeptember25,2015,September26,2014andSeptember27,2013,bothofwhichareincludedinourregistrationstatementfiledonFormS-1withtheSEC,asdeclaredeffectivebytheSEConJanuary18,2018.
AlldocumentsandreportsthatwefilewiththeSEC(otherthananyportionofsuchfilingsthatarefurnishedunderapplicableSECrulesratherthanfiled)underSections13(a),13(c),14or15(d)oftheExchangeActfromthedateofthisprospectusuntilthecompletionoftheofferingunderthisprospectusshallbedeemedtobeincorporatedinthisprospectusbyreference.Theinformationcontainedonoraccessiblethroughourwebsiteatwww.ADT.comisnotincorporatedintothisprospectus.
Youmayrequestacopyofthesefilings,otherthananexhibittothesefilingsunlesswehavespecificallyincludedorincorporatedthatexhibitbyreferenceintothefiling,fromtheSECasdescribedunder“WhereYouCanFindMoreInformation”or,atnocost,bywritingortelephoningADTInc.atthefollowingaddress:
ADTInc.1501YamatoRoad
BocaRaton,FL33431(561)322-7235
Attention:GeneralCounsel
Anystatementcontainedinadocumentincorporatedordeemedtobeincorporatedbyreferenceintothisprospectuswillbedeemedtobemodifiedorsupersededforpurposesofthisprospectustotheextentthatastatementcontainedinthisprospectusoranyothersubsequentlyfileddocumentthatisdeemedtobeincorporatedbyreferenceintothisprospectusmodifiesorsupersedesthestatement.Anystatementsomodifiedorsupersededwillnotbedeemed,exceptassomodifiedorsuperseded,toconstituteapartofthisprospectus.
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WHERE YOU CAN FIND MORE INFORMATION
WehavefiledwiththeSECaregistrationstatementonFormS-3withrespecttothesharesofcommonstockbeingissuedpursuanttothePlan.Thisprospectusconstitutesapartofthatregistrationstatement.Thisprospectusdoesnotcontainalltheinformationsetforthintheregistrationstatementandtheexhibitsandschedulestotheregistrationstatement,becausesomepartshavebeenomittedinaccordancewiththerulesandregulationsoftheSEC.ForfurtherinformationwithrespecttousandoursharesofcommonstockbeingissuedpursuanttothePlan,youshouldrefertotheregistrationstatement,includingthedocumentsincorporatedherein,andtheexhibitsandschedulesfiledaspartoftheregistrationstatement.Statementscontainedinthisprospectus,includingthedocumentsincorporatedherein,regardingthecontentsofanyagreement,contractorotherdocumentreferredtoarenotnecessarilycomplete.Referenceismadeineachinstancetothecopyofthedocumentfiledasanexhibittotheregistrationstatement,includingthedocumentsincorporatedherein.Eachsuchstatementisqualifiedbyreferencetotheapplicableexhibit.Youmayobtainacopyoftheregistrationstatement,includingthedocumentsincorporatedherein,withoutchargefromtheSEC’swebsite,whichiswww.sec.gov.
WearesubjecttotheinformationalrequirementsoftheExchangeActandarerequiredtofilereportsandotherinformationwiththeSEC.YoucanobtaincopiesofthesereportsandinformationorinspectthemwithoutchargeattheSEC’swebsite.Wefurnishourstockholderswithannualreportscontainingconsolidatedfinancialstatementsauditedbyourindependentregisteredpublicaccountingfirm.Wemaintainawebsiteatwww.ADT.com.Ourwebsiteandtheinformationcontainedthereinorconnectedtheretoshallnotbedeemedtobeincorporatedintothisprospectusortheregistrationstatementofwhichthisprospectusformsapart,andyoushouldnotrelyonanysuchinformationinmakingyourdecisionwhethertopurchaseoursharesofcommonstock.
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Thisprospectuscontains“forward-lookingstatements”withinthemeaningoftheU.S.PrivateSecuritiesLitigationReformActof1995,whichinvolverisksanduncertainties.Allstatementsotherthanstatementsofhistoricalfactscontainedinthisprospectus,includingstatementsregardingourstrategy,futureoperations,futurefinancialposition,futurerevenue,projectedcosts,prospects,plans,objectivesofmanagement,andexpectedmarketgrowthareforward-lookingstatements.Theforward-lookingstatementsarecontainedprincipallyinthesectionsentitled“ADTInc.,”“RiskFactors,”“ThePlan,”“UseofProceeds,”and“PlanofDistribution.”Withoutlimitingthegeneralityoftheprecedingsentence,anytimeweusethewords“expects,”“intends,”“will,”“anticipates,”“believes,”“confident,”“continue,”“propose,”“seeks,”“could,”“may,”“should,”“estimates,”“forecasts,”“might,”“goals,”“objectives,”“targets,”“planned,”“projects,”and,ineachcase,theirnegativeorothervariousorcomparableterminologyandsimilarexpressions,weintendtoclearlyexpressthattheinformationdealswithpossiblefutureeventsandisforward-lookinginnature.However,theabsenceofthesewordsorsimilarexpressionsdoesnotmeanthatastatementisnotforward-looking.ForADT,particularuncertaintiesthatcouldcauseouractualresultstobemateriallydifferentthanthoseexpressedinourforward-lookingstatementsinclude,withoutlimitation:
• ourabilitytomaintainandgrowourexistingcustomerbase;
• ourabilitytointegratethebusinessesofADT,Protection1,RedHawkandothercompanieswehaveacquiredinanefficientandcost-effectivemanner;
• theamountandtimingofourcashflowsandearnings,whichmaybeimpactedbycustomer,competitive,supplierandotherdynamicsandconditions;
• ourabilitytomaintainorimprovemarginsthroughbusinessefficiencies;
• ourabilitytosuccessfullyupgradeobsoleteequipment,suchas3GandCDMAcommunicationsequipmentinstalledatourcustomers’premises,inanefficientandcost-effectivemanner;
• ourabilitytolaunchnewproductandserviceofferingsthatachievemarketacceptancewithacceptablemargins;
• changesinlaw,economicandfinancialconditions,includingtaxlawchanges,changestoprivacyrequirements,changestotelemarketing,emailmarketingandsimilarconsumerprotectionlaws,interestandexchangeratevolatility,andtradetariffsapplicabletotheproductswesell;
• theimpactofpotentialinformationtechnology,cybersecurityordatasecuritybreaches;
• theotherfactorsthataredescribedinthisreportundertheheading“RiskFactors.”
Theseforward-lookingstatementsreflectourviewswithrespecttofutureeventsasofthedateofthisprospectusandarebasedonassumptionsandsubjecttorisksanduncertainties.Thesefactorsshouldnotbeconstruedasexhaustiveandshouldbereadinconjunctionwiththeothercautionarystatementsthatareincludedorincorporatedbyreferenceinthisprospectusandinotherfilings.Giventheseuncertainties,youshouldnotplaceunduerelianceontheseforward-lookingstatements.Theseforward-lookingstatementsrepresentourestimatesandassumptionsonlyasofthedateofthisprospectusand,exceptasrequiredbylaw,weundertakenoobligationtoupdateorreviewpubliclyanyforward-lookingstatements,whetherasaresultofnewinformation,futureevents,orotherwiseafterthedateofthisprospectus.Weanticipatethatsubsequenteventsanddevelopmentswillcauseourviewstochange.Youshouldreadthisprospectusandthedocumentsfiledasexhibitstotheregistrationstatement,ofwhichthisprospectusisapartcompletelyandwiththeunderstandingthatouractualfutureresultsmaybemateriallydifferentfromwhatweexpect.Ourforward-lookingstatementsdonotreflectthepotentialimpactofanyfutureacquisitions,merger,dispositions,jointventures,orinvestmentswemayundertake.Wequalifyallofourforward-lookingstatementsbythesecautionarystatements.
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ADT INC.
WearealeadingproviderofmonitoredsecurityandinteractivehomeandbusinessautomationsolutionsintheUnitedStates(or“U.S.”)andCanada.Ourmissionistohelpourcustomersprotectandconnecttowhatmattersmost—theirfamilies,homes,andbusinesses.TheADTbrandissynonymouswithsecurityand,asthemostrecognizedandtrustedbrandintheindustry,isakeydriverofoursuccess.Wecurrentlyserveapproximately7.2millioncustomers,excludingcontractsmonitoredbutnotowned,makingusoneofthelargestcompaniesofourkindintheU.S.andCanada.Wearealsooneofthelargestfull-servicecompanieswithanationalfootprintprovidingbothresidentialandcommercialmonitoredsecurity.Wedeliveranintegratedcustomerexperiencebymaintainingoneoftheindustry’slargestsales,installation,andservicefieldforces,aswellasa24/7professionalmonitoringnetwork,allsupportedbyapproximately19,000employees.Wehandleapproximately15millionalarmsannually.Weprovidesupportfromapproximately240salesandservicelocationsandthroughour12monitoringcenterslistedbyUnderwritersLaboratoriesintheU.S.andCanada.
ADTInc.isapubliccompanyincorporatedinDelaware.OurcommonstocktradesontheNYSEunderthesymbol“ADT.”Ourprincipalexecutiveofficesarelocatedat1501YamatoRoad,BocaRaton,Florida33431,anditstelephonenumberis(561)322-7235.
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RISK FACTORS
Investinginoursecuritiesinvolvesahighdegreeofrisk.Youshouldcarefullyconsiderthediscussionofrisksundertheheading“Item1A.RiskFactors”inthe2018AnnualReportandtheotherdocumentsthatareincorporatedbyreferenceinthisprospectus.Pleaseseethesectionofthisprospectusentitled“IncorporationofDocumentsbyReference.”Theoccurrenceofoneormoreofthoseriskfactorscouldadverselyimpactourbusiness,financialconditionorresultsofoperations.Insuchacase,youmayloseallorpartofyouroriginalinvestment.
InadditiontotheriskfactorsincorporatedbyreferenceintothisProspectusbytheprecedingparagraph,belowisadescriptionofcertainrisksthatyoumayfacebyvirtueofyourparticipationinthePlan.Theremaybeadditionalrisksthatarenotlistedbeloworinthereferenceddocuments,andyoushouldconsultyourfinancial,tax,legalandotheradvisorspriortodeterminingwhethertoparticipateinthePlan.
There is no price protection for your shares of common stock in the Plan.
YourinvestmentinthesharesofcommonstockheldinthePlanwillbeexposedtochangesinmarketconditionsandchangesinthemarketvalueofsharesofcommonstock.YourabilitytoliquidateorotherwisedisposeofsharesofcommonstockinthePlanissubjecttothetermsofthePlanandthewithdrawalproceduresunderthePlan.YoumaynotbeabletowithdraworsellyoursharesofcommonstockinthePlanintimetoreacttomarketconditions.
The purchase price for shares of common stock purchased or sold under the Plan will vary.
ThepurchasepriceforanysharesofcommonstockthatyoupurchaseorsellunderthePlanwillvaryandcannotbepredicted.Youmaypurchaseorsellsharesofcommonstockatapurchasepricethatisdifferentfrom(moreorlessthan)thepricethatyouwouldfaceifyouacquiredorsoldsharesontheopenmarketontherelateddividendpaymentdate.
The market price for our shares of common stock varies, and you should purchase shares of common stock for long-term investment only.
AlthoughoursharesofcommonstockarelistedontheNYSE,oursharesofcommonstockmaynotbeactivelytraded.Wecannotassureyouthattherewill,atanytimeinthefuture,beanactivetradingmarketforoursharesofcommonstock.Evenifthereisanactivetradingmarketforoursharesofcommonstock,wecannotassureyouthatyouwillbeabletosellallofyoursharesofcommonstockatonetimeoratafavorableprice,ifatall.Asaresult,youshouldparticipateinthePlanonlyifyouarecapableof,andseeking,tomakealong-terminvestmentinsharesofcommonstock.
We may not be able to pay dividends.
Althoughwehavepaiddividendsonoursharesofcommonstockinthepast,thereisnoassurancethatwewillcontinuetopaydividendsatthesamerateasinthepast,oratall.Pursuanttoouramendedandrestatedcertificateofincorporationandamendedandrestatedbylaws,ourboardofdirectorshasthediscretiontoauthorizedividends,subjecttocertainlimitationsimposedunderDelawarelaw.Ifweareunabletomaintainprofitabilityorifourboardofdirectorsdoesnotauthorizedividends,wemaynotbeabletomakecashdistributionstoourstockholders.
You may incur tax obligations without receiving cash with which to pay those obligations.
IfyoureinvestdividendsunderthePlan,youwillbetreatedforU.S.federalincometaxpurposesashavingreceivedadistributiononthedividendpaymentdate,whichmaygiverisetoataxpaymentobligationwithoutprovidingyouwithcashtopaysuchtaxwhenitbecomesdue.SeeQuestion18under“ThePlan—CommonlyAskedQuestions”and“MaterialU.S.FederalIncomeTaxConsiderations”foradescriptionofcertainU.S.federalincometaxconsequencesofparticipatinginthePlan.
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THE PLAN
Plan Overview
ThePlanoffersasimple,convenientandno-costwayforownersofoursharesofcommonstocktoinvestalloraportionoftheircashdividendsinoursharesofcommonstock.ThePlanisdesignedforlong-terminvestorswhowishtoinvestandbuildtheirownershipofoursharesofcommonstockovertime.Unlikeanindividualbrokerageaccount,thetimingofpurchasesissubjecttotheprovisionsofthePlan.TheprincipaltermsandconditionsofthePlanaresummarizedunder“CommonlyAskedQuestions”below.
WehaveappointedAmericanStockTransfer&TrustCompany,LLC,orthe“Administrator,”toadministerthePlan,andcertainadministrativesupportwillbeprovidedtotheAdministratorbyitsdesignatedaffiliates.Together,theAdministratoranditsaffiliateswillpurchaseandholdsharesofcommonstockforPlanparticipants,keeprecords,sendstatementsandperformotherdutiesrequiredbythePlan.
OnlyregisteredholdersofoursharesofcommonstockcanparticipatedirectlyinthePlan.Ifyouareabeneficialownerofsharesofcommonstockinabrokerageaccountandwishtoreinvestyourcashdividends,youcanmakearrangementswithyourbrokerornomineetoparticipateinthePlanonyourbehalf,oryoucanrequestthatyoursharesofcommonstockbecomeregisteredinyourname.
PleasereadthisentireprospectusforamoredetaileddescriptionofthePlan.IfyouarearegisteredholderofoursharesofcommonstockandwouldliketoparticipateinthePlan,youcanenrollonlinebyfollowingtheenrollmentproceduresspecifiedontheAdministrator’swebsiteathttps://us.astfinancial.com/InvestOnline/Invest/AllPlanorbycompletingandsigninganenrollmentformandreturningittotheAdministratorattheaddressandtelephonenumberprovidedinQuestion6,orviatheInternetattheAdministrator’swebsiteatwww.astfinancial.com.
Commonly Asked Questions
1. How can I participate in the Plan?
Ifyouareacurrentholderofrecord,orregisteredholder,ofoursharesofcommonstock,youmayparticipatedirectlyinthePlan.Ifyouownsharesofcommonstockthatareregisteredinsomeoneelse’sname(forexample,abank,brokerortrustee),thePlanallowsyoutoparticipatethroughsuchperson,shouldtheyelecttoparticipate,withouthavingtowithdrawyoursharesofcommonstockfromsuchbank,brokerortrustee.IfyourbrokerorbankelectsnottoparticipateinthePlanonyourbehalf,youcanparticipatebywithdrawingyoursharesofcommonstockfromsuchbankorbrokerandregisteringyoursharesofcommonstockinyourname.
2. How do I get started?
Ifyouarearegisteredholderofoursharesofcommonstock,onceyouhavereadthisprospectus,youcangetstartedbyenrollinginthePlanonlinebyfollowingtheenrollmentproceduresspecifiedontheAdministrator’swebsiteathttps://us.astfinancial.com/InvestOnline/Invest/AllPlanorbycompletingandsigninganenrollmentform(seeQuestion6)andreturningittotheAdministrator.Ifyouareabeneficialownerofsharesofcommonstockinabrokerageaccount,onceyouhavereadthisprospectus,youshouldmakearrangementswithyourbrokerornomineetoparticipateinthePlanonyourbehalf.
IftheAdministratorreceivesyourenrollmentformonorbeforetherecorddateforthepaymentofthenextcashdividend,theamountofthecashdividendthatyouelecttobereinvestedwillbeinvestedinadditionalsharesofcommonstockforyourPlanaccount.Iftheenrollmentformisreceivedintheperiodafteranyrecorddate,thatcashdividendwillbepaidtoyouandyourinitialcashdividendreinvestmentwillcommencewiththefollowingcashdividend.
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Onceyouhaveenrolled,yourparticipationcontinuesautomatically,foraslongasyouwish(seeQuestion3onhowtoterminateyourparticipationandQuestion4onhowtomodifyyourparticipation).Ifyouownsharesofcommonstockthatareregisteredinsomeoneelse’sname(forexampleabank,brokerortrustee),thenyoushouldcontactsuchpersontoarrangeforthemtoparticipateinthePlanonyourbehalf.
3. How can I withdraw from the Plan?
IfyouarearegisteredholderofoursharesofcommonstockandyouareparticipatinginthePlan,youmaydiscontinuethereinvestmentofyourcashdividendsatanytimebyprovidingnoticetotheAdministrator.Inaddition,youmaychangeyourcashdividendelectiononlineundertheAdministrator’saccountmanagementservice,accessibleatwww.astfinancial.com.AnoticeofwithdrawalforanyparticularcashdividendpaymentwillbeeffectiveonlyiftheAdministratorreceivessuchnoticepriortotherecorddateforsuchcashdividend.Futuredividendspaidafterreceiptofyourrequesttowithdrawwillbepaidincash.
IfyouareabeneficialownerofoursharescommonstockandyouareparticipatinginthePlanthroughyourbroker,youshoulddirectyourbrokertodiscontinueparticipationinthePlanonyourbehalf.
Generally,anownerofsharesofcommonstockmayagainbecomeaparticipantinthePlan.However,wereservetherighttorejecttheenrollmentofapreviousparticipantinthePlanongroundsofexcessivejoiningandtermination.ThisreservationisintendedtominimizeadministrativeexpenseandtoencourageuseofthePlanasalong-terminvestmentservice.
Pleasenotethatuponreceiptofwrittennoticeofaparticipant’sdeath,theAdministratorshallterminatesuchparticipantsenrollmentinthePlan.
4. How can I modify my participation in the Plan?
IfyouarearegisteredholderofoursharesofcommonstockandyouareparticipatinginthePlan,youmaymodifythereinvestmentofyourcashdistributionsatanytimebyprovidingnoticetotheAdministrator.Inaddition,youmaymodifyyourcashdistributionelectiononlineundertheAdministrator’saccountmanagementservice,accessibleatwww.astfinancial.com.AnoticeofmodificationforanyparticularcashdistributionpaymentwillbeeffectiveonlyiftheAdministratorreceivessuchnoticepriortotherecorddateforsuchcashdividend.
IfyouareabeneficialownerofoursharescommonstockandyouareparticipatinginthePlanthroughyourbroker,youshoulddirectyourbrokertomodifyyourparticipationinthePlanonyourbehalf.
5. How are dividends reinvested?
ByenrollinginthePlan,youdirecttheAdministratortoapplycashdividendstothepurchaseofadditionalsharesofcommonstockinaccordancewiththetermsandconditionsofthePlan.Youmayelecttoreinvestalloraportionofyourcashdividendsinadditionalsharesofcommonstock.TheAdministratorwillinvestdividendsinwholeandfractionalsharesofcommonstockonthequarterlydividendpaymentdate(whichwillbetheinvestmentdate).NointerestwillbepaidonfundsheldbytheAdministratorpendinginvestment,ifany.
IftheAdministratorreceivesyourenrollmentformonorbeforetherecorddateforthepaymentofthenextcashdividend,theamountofthecashdividendthatyouelecttobereinvestedwillbeinvestedinadditionalsharesofcommonstockforyourPlanaccount.Ifyoursharesofcommonstockareheldinsomeoneelse’sname(forexample,abank,brokerortrustee),anysharesofcommonstockpurchasedthroughthePlanmaytakeupanumberofdaystobetransferredtotheaccountofsuchotherperson.Iftheenrollmentformisreceivedintheperiodafteranyrecorddate,thatcashdividendwillbepaidtoyouandyourinitialcashdividendreinvestmentwillcommencewiththefollowingcashdividend.
Youmaywithdrawormodifyyourcashdividendreinvestmentelectionatanytime.SeeQuestions3and4.
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6. When are dividends reinvested?
Theinvestmentdatewillbethecashdividendpaymentdateforeachquarter.Therecorddateforeligibilitytoreceivecashdividendsgenerallywillbeatleast15daysbeforethedateuponwhichcashdividendsarepaid.Ifyoursharesofcommonstockareheldinsomeoneelse’sname(forexample,abank,brokerortrustee),anysharesofcommonstockpurchasedthroughthePlanmaytakeupanumberofdaystobetransferredtotheaccountofsuchotherperson.
7. What is the source and price of shares of common stock purchased under the Plan?
WewilluseourauthorizedbutunissuedsharesofcommonstockforallsharesofcommonstocktobepurchasedunderthePlan.Thepriceforauthorizedbutunissuedsharesofcommonstockpurchasedwithreinvestedcashdividendswillbethevolume-weightedaveragepriceofoursharesofcommonstockontheNewYorkStockExchangeforthefivetradingdayperiodimmediatelyprecedingtheinvestmentdate,lessadiscountrangingfrom0%to5%.Ourboardofdirectorshassettheinitialdiscountat0.0%.Therefore,theinitialpurchasepriceforauthorizedbutunissuedsharesofcommonstockpurchasedwithreinvestedcashdividendswillbe100%ofsuchaverageclosingprice.(Note:IfyouparticipateinthePlanthroughyourbroker,youshouldconsultwithyourbrokertodetermineifyourbrokerwillchargeyouaservicefee.)Pleasenote,however,thatourboardofdirectorsmay,fromtimetotime,changethediscountrate.Wewillprovidenoticetoyouofanychangesinthediscountrateatleast15dayspriortothefollowingrecorddate.
8. Who is the Administrator of the Plan?
AmericanStockTransfer&TrustCompany,LLCistheAdministratorofthePlan.CertainadministrativesupportwillbeprovidedtotheAdministratorbyitsdesignatedaffiliates.Fortransactionrequests,pleasewritetotheAdministratoratthefollowingaddress:
AmericanStockTransfer&TrustCompany,LLCWallStreetStationP.O.Box922
NewYork,NewYork10269-0560.
ForallothercorrespondenceregardingthePlan,pleasewritetotheAdministratoratthefollowingaddress:
AmericanStockTransfer&TrustCompany,LLC6201FifteenthAvenue
Brooklyn,NewYork11219
Inaddition,youmaycalltheAdministratorat(800)278-4353orcontacttheAdministratorviatheInternetatwww.astfinancial.com.
PleaseincludeareferencetoADTInc.andthisPlaninallcorrespondence.
9. What is the cost of participating in the Plan?
ThereisnofeeforreinvestingyourcashdividendsthroughthePlan.YoumayberesponsibleforcertainchargesifyouwithdrawfromthePlan.Additionally,ifyouareabeneficialownerofoursharesofcommonstockandareparticipatinginthePlanthroughyourbroker,youshouldconsultwithyourbrokerwhomaychargeyouafeeforparticipatinginthePlanonyourbehalf.
10. How many shares of common stock will be purchased for my account?
IfyouarearegisteredholderofoursharesofcommonstockandaredirectlyparticipatinginthePlan,thenumberofsharesofcommonstock,includingfractionalsharesofcommonstock,purchasedunderthePlanwill
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dependontheamountofyourcashdividendyouelecttoreinvestandthepriceofthesharesofcommonstockdeterminedasprovidedabove.SharesofcommonstockpurchasedunderthePlan,includingfractionalsharesofcommonstock,willbecreditedtoyouraccount.Bothwholeandfractionalsharesofcommonstockwillbepurchased.Fractionalsharesofcommonstockwillbecomputedtothreedecimalplaces.
IfyouareabeneficialownerandareparticipatinginthePlanthroughyourbroker,youshouldcontactyourbrokerforthedetailsofhowthenumberofsharesofcommonstockyoupurchasewillbedetermined.
Thisprospectusrelatesto18,750,000sharesofourcommonstockregisteredforsaleunderthePlan.WecannotassureyoutherewillbeenoughsharesofcommonstocktomeettherequirementsunderthePlan.IfwedonothaveasufficientnumberofauthorizedbutunissuedsharesofcommonstocktomeetthePlanrequirementsduringanyquarter,anyreinvesteddividendsreceivedbytheAdministratorbutnotinvestedinoursharesofcommonstockunderthePlanwillbereturnedtoparticipantswithoutinterest.
11. How will my shares of common stock be held under the Plan?
IfyouarearegisteredholderofoursharesofcommonstockandyouaredirectlyparticipatinginthePlan,thesharesofcommonstockthatyouacquireunderthePlanwillbemaintainedinyourPlanaccountinbook-entryform.
IfyouareabeneficialownerofoursharesofcommonstockandyouareparticipatinginthePlanthroughyourbroker,thesharesofcommonstockthatarepurchasedonyourbehalfunderthePlanwillbemaintainedinyouraccountwithyourbroker.
12. How do I sell shares of common stock held under the Plan?
IfyouarearegisteredholderofoursharesofcommonstockandyouaredirectlyparticipatinginthePlan,youcansellyourPlancommonstockatanytimebycontactingtheAdministrator.Yoursalerequestwillbeprocessed,andyoursharesofcommonstockwill,subjecttomarketconditionsandotherfacts,generallybesoldwithin24hoursofreceiptandprocessingofyourrequest.PleasenotethattheAdministratorcannotanddoesnotguaranteetheactualsaledateorprice,norcanitstoporcancelanyoutstandingsaleorissuancerequests.Allrequestsarefinal.WhenyoursharesofcommonstockaresoldthroughtheAdministrator,youwillreceivetheproceedsofsuchsalelessaservicefeeof$15.00andanybrokeragetradingfees,whicharecurrentlysetat$0.12pershareofcommonstock.TheAdministratorwillmailachecktoyou(lessapplicablesalesfees)onthesettlementdate,whichistwobusinessdaysafteryoursharesofcommonstockhavebeensold.
Alternatively,youmaychoosetowithdrawyoursharesofcommonstockfromyourPlanaccountandsellthemthroughabrokerofyourchoice,inwhichcaseyouwouldhavetorequestthattheAdministratorelectronicallytransferyoursharesofcommonstocktothebrokerthroughtheDirectRegistrationSystem.
IfyouareabeneficialownerofoursharesofcommonstockandyouareparticipatinginthePlanthroughyourbroker,youshouldcontactyourbrokertosellyoursharesofcommonstock.
Ifyoudisposeofallthesharesofcommonstockregisteredinyourname,butdonotgivenoticeofwithdrawaltotheAdministrator,theAdministratorwillcontinuetocomplywithyourparticipation,ifany,inthePlanonanysharesofcommonstockheldinyouraccountunderthePlanuntiltheAdministratorisnotifiedotherwise.
13. How will I keep track of my investments?
IfyouarearegisteredholderofoursharesofcommonstockandyouaredirectlyparticipatinginthePlan,theAdministratorwillsendyouatransactionnoticeconfirmingthedetailsofeachtransactionthatyoumakeandaquarterlystatementofyouraccount.
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IfyouareabeneficialownerofoursharesofcommonstockandyouareparticipatinginthePlanthroughyourbroker,thedetailsofthereinvestmenttransactionswillbemaintainedbyyourbroker.Youshouldcontactyourbrokertodeterminehowthisinformationwillbeprovidedtoyou.
14. Can the Plan be suspended, modified or terminated?
ThePlanwillterminateupontheearlierof(a)February27,2021and(b)thedateuponwhichanaggregateof18,750,000sharesofcommonstockhavebeenissuedpursuanttothePlan.
Additionally,wereservetherighttosuspend,modifyorterminatethePlanatanytime,andfromtimetotime.Participantswillbenotifiedofanysuspension,modificationorterminationofthePlan.IfyouarearegisteredholderofoursharesofcommonstockandyouaredirectlyparticipatinginthePlan,uponourterminationofthePlan,wewillissuetoyouthenumberofwholesharesofcommonstockinyouraccountanddocumentsuchissuancetoyournameinbook-entryformontheaccountsofourtransferagent.AnyfractionalsharesofcommonstockinyourPlanaccountwillbeconvertedtocashandremittedtoyoubycheck.
15. What would be the effect of any stock splits or distributions?
Ifwedistributeanypropertyotherthancashtotheholdersofoursharesofcommonstock,orifweeffectasplitofoursharesofcommonstock,suchpropertydistributedtoyoursharesofcommonstockunderthePlanshallbefullycreditedtoyouraccountunderthePlan.
Intheeventofarightsoffering,yourentitlementwillbebaseduponyourtotalholdings,includingthosecreditedtoyouraccountunderthePlan.RightsapplicabletosharesofcommonstockcreditedtoyouraccountunderthePlanwillbesoldbytheAdministratorandtheproceedswillbecreditedtoyouraccountunderthePlanandappliedtothepurchaseofsharesofcommonstockonthenextinvestmentdate.Ifyouwanttoexercise,transferorsellanyportionoftherightsapplicabletothesharesofcommonstockcreditedtoyouraccountunderthePlan,youmustrequest,atleasttwodayspriortotherecorddatefortheissuanceofanysuchrights,thataportionofthesharesofcommonstockcreditedtoyouraccountbetransferredfromyouraccountandregisteredinyourname.Transactionprocessingmayeitherbecurtailedorsuspendeduntilthecompletionofanydividend,stocksplitorothercorporateaction.
16. Can I vote shares of common stock acquired through the Plan?
Sharesofcommonstockheldinaparticipant’saccountbytheTrusteearevotedinthesamemannerassharesofcommonstockbeneficiallyownedbyastockholder,eitherbyproxyorbytheparticipantinperson.
17. May shares held in a Plan account be pledged?
No.Ifyouwishtopledgesharesofcommonstockthatarecreditedtoyouraccount,youwillfirsthavetorequestthatsuchsharesarewithdrawnfromthePlanandareissuedtoyournameinbook-entryformontheaccountsofourtransferagent.
18. What are the U.S. federal income tax consequences of purchasing shares of common stock under the Plan?
Ingeneral,youwillbetreated,forU.S.federalincometaxpurposes,ashavingreceived,onthedividendpaymentdate,adistributioninanamountequaltothefairmarketvalueofthesharesofcommonstock(withoutreductionforanydiscount,ifany)creditedtoyouraccountunderthePlan.SuchdistributionwillbetaxableasadividendforU.S.federalincometaxpurposestotheextentofADT’scurrentoraccumulatedearningsandprofits.AnyportionofthedistributioninexcessofADT’scurrentandaccumulatedearningsandprofitswillfirstbetreatedasatax-freereturnofcapitaltotheextentofyouradjustedtaxbasisinyoursharesofcommonstockin
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respectofwhichthedistributionwasreceivedandwillbeappliedagainstandreducesuchbasisonadollar-for-dollarbasis.Totheextentthatsuchdistributionexceedsyouradjustedtaxbasisinsuchsharesofcommonstock,thedistributionwillbetreatedascapitalgain.
PurchasingsharesofcommonstockpursuanttothePlanwillnotaffectthetaxobligationsassociatedwiththecommonstockyoucurrentlyown.However,participationinthePlanwillreducetheamountofcashdistributionsavailabletoyoutosatisfyanytaxobligationsassociatedwithowningsuchsharesofcommonstock.Pleaseread“MaterialU.S.FederalIncomeTaxConsiderations”forinformationrelevanttoholdersofsharesofcommonstockgenerally.
19. What provision is made for shareholders subject to income tax withholding?
Backupwithholdingatthethen-applicableratemayapplytotheamountofdividendsandtheproceedsofanysaleofsharesofcommonstockif:(i)youfailtofurnishaproperlycompletedFormW-9orappropriateFormW-8,ifapplicable,ortheequivalentthereof,or(ii)theIRSnotifiesusthatyouaresubjecttobackupwithholding.Thewithheldamountswillbedeductedfromthedividendsand/orproceedsofanysaleofsharesofcommonstockandtheremainingamountwillbesenttoyou.
Inthecaseofnon-U.S.shareholderswhosedividendsaresubjecttoU.S.incometaxwithholding,theamountoftaxtobewithheldwillbedeductedfromtheamountofdividendsotherwisereceivableandtheremainingamountofdividendswillbereinvested.Inthecaseofthosenon-U.S.shareholderswhosesaleproceedsaresubjecttowithholding,theamountoftaxtobewithheldwillbedeductedfromtheproceedsofthesaleofsharesofcommonstock.
Pleaseread“MaterialU.S.FederalIncomeTaxConsiderations”forinformationrelevanttoholdersofsharesofcommonstockgenerally.
Responsibilities Under the Plan
We,theAdministratorandanyagentwillnotbeliableinadministeringthePlanforanyactdoneingoodfaith,orforanyomissiontoactingoodfaithwithregardstopurchasingand/orsellingcommonstockforparticipantsand,including,withoutlimitation,anyclaimofliabilityarisingoutoffailuretoterminateaparticipant’saccountuponthatparticipant’sdeathpriortothereceiptofnoticeinwritingofsuchdeath.SincewehavedelegatedallresponsibilityforadministeringthePlantotheAdministrator,wespecificallydisclaimanyresponsibilityforanyofitsactionsorinactionsinconnectionwiththeadministrationofthePlan.
Youshouldrecognizethatneitherwe,theAdministrator,noranyagentcanassureyouofaprofitorprotectyouagainstaneconomiclossoncommonstockpurchasedunderthePlan.
General
WereservetherighttointerpretandregulatethePlanaswedeemnecessaryordesirableandanysuchinterpretationorregulationwillbefinal.
Anyreferencehereintoarecorddateorapaymentdatemeanssuchdatewithrespecttoacashdividendpayableonoursharesofcommonstock.
ThetermsandconditionsofthePlananditsoperationsaregovernedbythelawsoftheStateofDelaware.
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USE OF PROCEEDS
Thenetproceeds,ifany,werealizefromsalesofoursharesofcommonstockpursuanttothePlanwillbeusedforgeneralcorporatepurposes.
WedonotexpecttoinitiallyreceiveanyproceedsfromthesalesofsharesofcommonstockpursuanttothePlanasourboardofdirectorshassettheinitialdiscountforsalesofoursharesofcommonstockpursuanttothePlanat0.0%.
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MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS
ThefollowingsummarydescribescertainmaterialU.S.federalincometaxconsiderationswhichmaybeapplicabletoaholderofsharesofcommonstockthatparticipatesinthePlan.Asusedinthissection,theterm“U.S.Holder”meansabeneficialownerofashareofcommonstockthatis(i)acitizenorindividualresidentoftheUnitedStatesasdeterminedforU.S.federalincometaxpurposes,(ii)acorporationorotherentitytaxableasacorporationforU.S.federalincometaxpurposesthatisorganizedinorunderthelawsoftheUnitedStates,anystatethereofortheDistrictofColumbia,(iii)anestatetheincomeofwhichissubjecttoU.S.federalincometaxationwithoutregardtothesourcethereofor(iv)atrustifaU.S.courthasprimarysupervisionoveritsadministrationandoneormoreU.S.personshavetheauthoritytocontrolallsubstantialdecisionsofthetrust,orifthetrusthasavalidelectionineffectunderapplicableTreasuryRegulationstobetreatedasaU.S.person.Asusedinthissection,theterm“Non-U.S.Holder”meansabeneficialownerofashareofcommonstockthatisneitheraU.S.Holdernorapass-throughentity(includingapartnership),asdeterminedforU.S.federalincometaxpurposes.Ifapass-throughentity,includingapartnershiporotherentityclassifiedasapartnershipforU.S.federalincometaxpurposes,isabeneficialownerofsharesofcommonstock,theU.S.federalincometaxtreatmentofanownerorpartnergenerallywilldependuponthestatusofsuchownerorpartnerandupontheactivitiesofthepass-throughentity.Anyownerorpartnerofapass-throughentityholdingsharesofcommonstockisurgedtoconsultitsowntaxadvisor.
ThisdiscussionisbasedontheU.S.InternalRevenueCodeof1986,asamended(the“Code”),administrativepronouncements,judicialdecisions,existingandproposedTreasuryRegulationsandinterpretationsoftheforegoing,allasofthedatehereof.Alloftheforegoingauthoritiesaresubjecttochange(possiblywithretroactiveeffect),andanysuchchangemayresultinU.S.federalincometaxconsequencestoaholderthataremateriallydifferentfromthosedescribedbelow.NorulingsfromtheU.S.InternalRevenueService(the“IRS”)havebeenorwillbesoughtwithrespecttothemattersdescribedbelow,andconsequently,theIRSmaynottakeasimilarviewoftheconsequencesdescribedbelow.
ThissummarydoesnotpurporttobeafulldescriptionofallU.S.federalincometaxconsiderationsthatmayberelevanttoaholderinlightofsuchholder’sparticularcircumstancesandonlyaddressesholdersthatholdsharesofcommonstockascapitalassets(generally,propertyheldforinvestment)withinthemeaningofSection1221oftheCode.Furthermore,thissummarydoesnotaddresstheU.S.federalincometaxconsiderationsapplicabletoholderssubjecttospecialrules,suchascertainfinancialinstitutions,realestateinvestmenttrusts,regulatedinvestmentcompaniesorinsurancecompanies;tax-exemptorganizations,charitableremaindertrusts,qualifiedretirementplans,individualretirementaccounts,orothertax-deferredaccounts;tradersinsecuritiesthatelecttouseamark-to-marketmethodofaccounting;dealersinsecuritiesorcurrencies;personsholdingsharesofcommonstockinconnectionwithahedgingtransaction,“straddle”,conversiontransactionorotherintegratedtransaction;personsthatowndirectly,indirectlyorconstructivelytenpercentormore,byvotingpower,oftheoutstandingequityinterestsofADT;personsthatacquiredthesharesofcommonstockinconnectionwiththeexerciseofemployeestockoptionsorotherwiseascompensationforservices;personswhose“functionalcurrency”isnottheU.S.dollar;personssubjecttothealternativeminimumtax;personsthatarerequiredtoreportincomenolaterthanwhensuchincomeisreportedinan“applicablefinancialstatement”;U.S.expatriatesandforeigngovernmentsandotherentitiesthatareeligibleforthebenefitsofSection892oftheCode.Inaddition,thisdiscussiondoesnotincludeanydescriptionofanyestateandgifttaxconsequences,orthetaxlawsofanystate,local,non-U.S.orothergovernmentthatmaybeapplicable.
Thefollowingdiscussionisforgeneralinformationonlyandisnotintendedtobe,norshoulditbeconstruedtobe,legalortaxadvicetoanyparticularPlanparticipantorprospectivePlanparticipant,andnoopinionorrepresentationwithrespecttotheU.S.federalincometaxconsequencestoanyparticularPlanparticipantorprospectivePlanparticipantismade.HoldersofsharesofcommonstockareurgedtoconsulttheirtaxadvisorswithrespecttotheU.S.federal,stateandlocaltaxconsequences,thenon-U.S.taxconsequencesandthenon-taxconsequencesofparticipatinginthePlan.
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U.S. Holders
Amount Includible in Income
ForU.S.federalincometaxpurposes,aU.S.Holderwillbetreatedasreceivingadistributioninanamountequaltothesumof(i)thefairmarketvalueofsharesofcommonstockacquiredpursuanttothePlan(withoutreductionforanydiscount,ifany)and(ii)anytaxeswithheldunderthebackupwithholdingruleswithrespecttothedistribution,ifany.Forthesepurposes,weintendtotreatthe“fairmarketvalue”ofsharesofcommonstockacquiredunderthePlanastheweightedaverageofthehighandlowsalespriceofoursharesofcommonstockontheNYSEonthefivetradingdaysprecedingtherelevantcashdividendpaymentdate.ThedistributionwillbeincludibleinincomebyaU.S.HolderasdividendincometotheextentsuchdistributionismadeoutofthecurrentoraccumulatedearningsandprofitsofADTasdeterminedunderU.S.federalincometaxprinciples.Anysuchdividendreceivedbynon-corporateU.S.Holderswillgenerallybe“qualifieddividendincome”tosuchU.S.Holders,whichwillbesubjecttoU.S.federalincometaxatpreferentialrates.CertaincorporateU.S.Holdersmaybeentitledtoadividendsreceiveddeductionwithrespecttoamountstreatedasordinarydividendincome.Corporateparticipantsareurgedtoconsulttheirowntaxadvisorsregardingtheireligibilityforandtheextentofsuchdeduction.AnyportionofthedistributioninexcessofADT’scurrentandaccumulatedearningsandprofitswillfirstbetreatedasatax-freereturnofcapitaltotheextentofaU.S.Holder’sadjustedtaxbasisinitssharesofcommonstockinrespectofwhichthedistributionwasmadeandwillbeappliedagainstandreducesuchbasisonadollar-for-dollarbasis(therebyincreasingtheamountofgainanddecreasingtheamountoflossrecognizedonasubsequentdispositionofsuchsharesofcommonstock).TotheextentthatsuchdistributionexceedstheU.S.Holder’sadjustedtaxbasis,thedistributionwillbetreatedascapitalgain,whichwillbetreatedaslong-termcapitalgainifsuchU.S.Holder’sholdingperiodinitssharesofcommonstockexceedsoneyearasofthedateofthedistributionandotherwisewillbeshort-termcapitalgain.
AU.S.Holder’staxbasisforsharesofcommonstockreceivedpursuanttothePlanwillequalthefairmarketvalueofthesharesofcommonstockonthedividendpaymentdate.AU.S.Holder’sholdingperiodforthesharesofcommonstockwillbeginonthedayafterthedividendpaymentdate.
AU.S.HolderwillnotrealizeanytaxableincomeuponthereceiptofcertificatesforwholesharesofcommonstockthatwerecreditedtotheU.S.Holder’saccountuponwithdrawalfromorterminationofthePlan.AU.S.HoldergenerallywillrecognizegainorlossuponthesaleorexchangeofsharesofcommonstockanduponreceiptofcashpaymentsforfractionalsharescreditedtotheiraccountsuponwithdrawalfromorterminationofthePlan.Theamountofsuchgainorlosswillbeequaltothedifference(ifany)between(i)theamountrealizedforthesharesofcommonstockorfractionalshareand(ii)theU.S.Holder’sadjustedtaxbasisinthesharesofcommonstock.Suchgainorlosswillbecapitalgainorlossandwillbelong-termcapitalgainorlossiftheU.S.Holder’sholdingperiodforthesharesofcommonstockismorethanoneyearatthetimeofthesaleorexchange.Capitalgainsofnon-corporatetaxpayersonassetsheldformorethanoneyeararegenerallysubjecttopreferentialrates.Thedeductibilityofcapitallossesissubjecttolimitations.ThePlanassumesthateachparticipantwillusethefirst-in,first-out(FIFO)methodwhendeterminingthetaxbasisofanysharesofcommonstocksold.ParticipantsmaydesignatetheirpreferenceforadifferentmethodofdeterminingthetaxbasisofsharesofcommonstockbyidentifyingthispreferenceinwritingtotheAdministrator.EachU.S.HoldershouldconsultitsowntaxadvisorwithrespecttothetaxtreatmentofthereceiptofcertificatesandcashinlieuoffractionalsharesuponwithdrawalfromorterminationofthePlan.
Additional Tax on Passive Income
U.S.Holdersthatareindividuals,estatesortrustsandwhoseincomeexceedscertainthresholdsgenerallywillbesubjecttoa3.8%taxontheir“netinvestmentincome”,whichincludes,amongotherthings,dividendson,andcapitalgainsfromthesaleorothertaxabledispositionof,thesharesofcommonstock,subjecttocertainlimitationsandexceptions.
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U.S. Information Reporting and Backup Withholding
Undersomecircumstances,aU.S.HoldermaybesubjecttoU.S.informationreportingandbackupwithholdingtaxondistributionspaidonsharesofcommonstockorfromthedispositionofsharesofcommonstock.Informationreportingandbackupwithholdingwillnotapply,however,toaU.S.Holderthatisacorporationorisotherwiseexemptfrominformationreportingandbackupwithholdingand,whenrequired,demonstratesthisfact.BackupwithholdingalsowillnotapplytoaU.S.HolderthatfurnishesacorrecttaxpayeridentificationnumberandcertifiesonaFormW-9orsuccessorform,underpenaltyofperjury,thatitisnotsubjecttobackupwithholding,andotherwisecomplieswithapplicablerequirementsofthebackupwithholdingrules.AU.S.HolderthatfailstoprovidethecorrecttaxpayeridentificationnumberonFormW-9orsuccessorformmaybesubjecttopenaltiesimposedbytheIRS.Backupwithholding,currentlyata24%rate,isnotanadditionaltax,andanyamountwithheldundertheseruleswillbeallowedasarefundorcreditagainstaU.S.Holder’sU.S.federalincometaxliabilityiftherequiredinformationistimelyfurnishedtotheIRS.
U.S.Holdersareurgedtoconsulttheirtaxadvisorsregardingtheirreportingrequirements.
Non-U.S. Holders
Amount Includible in Income
ForU.S.federalincometaxpurposes,aNon-U.S.Holderwillbetreatedasreceivingadistributioninanamountequaltothesumof(i)thefairmarketvalueofsharesofcommonstockacquiredpursuanttothePlan(withoutreductionforanydiscount,ifany)and(ii)anytaxeswithheldwithrespecttothedistribution.Forthesepurposes,weintendtodeterminethe“fairmarketvalue”asdescribedaboveunder“—U.S.Holders—AmountIncludibleinIncome.”ThedistributionwillbetreatedasdividendincometoaNon-U.S.HoldertotheextentsuchdistributionismadeoutofthecurrentoraccumulatedearningsandprofitsofADTasdeterminedunderU.S.federalincometaxprinciples.Exceptasdescribedbelowunder“—Non-U.S.Holders—U.S.TradeorBusinessIncome,”Non-U.S.HoldersgenerallywillbesubjecttoU.S.federalwithholdingtaxata30%rate,oratareducedrateprescribedbyanapplicableincometaxtreaty,onanydividendsreceivedinrespectoftheirsharesofcommonstock.
AnyportionofthedistributioninexcessofADT’scurrentandaccumulatedearningsandprofitswillfirstbetreatedasatax-freereturnofcapitaltotheextentofaNon-U.S.Holder’sadjustedtaxbasisinitssharesofcommonstockinrespectofwhichsuchdistributionwasmadeandwillbeappliedagainstandreducesuchbasisonadollar-for-dollarbasis.TotheextentthatsuchdistributionexceedstheNon-U.S.Holder’sadjustedtaxbasis,thedistributionwillbetreatedascapitalgain.However,becauseADTgenerallycannotdetermineatthetimeitmakesadistributionwhetherornotthedistributionwillexceeditscurrentandaccumulatedearningsandprofits,ADTnormallywillwithholdtaxontheentireamountofanydistributionatthesamerateasADTwouldwithholdonadividend.IfitislaterdeterminedthatadistributioninfactexceededADT’scurrentandaccumulatedearningsandprofits,aNon-U.S.HolderwouldbeentitledtoarefundfromtheIRSforthewithholdingtaxontheportionofthedistributionthatexceededADT’scurrentandaccumulatedearningsandprofits.
InordertoobtainareducedrateofU.S.federalwithholdingtaxunderanapplicableincometaxtreaty,aNon-U.S.HolderwillberequiredtoprovideaproperlyexecutedapplicableIRSFormW-8(orsuccessorform)certifyingsuchNon-U.S.Holder’sentitlementtobenefitsundertheapplicabletreaty.IfaNon-U.S.HolderiseligibleforareducedrateofU.S.federalwithholdingtaxunderanincometaxtreaty,suchholdermayobtainarefundorcreditofanyexcessamountswithheldbyfilinganappropriateclaimforarefundwiththeIRS.Non-U.S.Holdersareurgedtoconsulttheirowntaxadvisorsregardingtheirpossibleentitlementtobenefitsunderanincometaxtreaty.
ANon-U.S.HolderwillnotrealizeanytaxableincomeforU.S.federalincometaxpurposesuponthereceiptofcertificatesforwholesharesofcommonstockthatwerecreditedtotheNon-U.S.Holder’saccount
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uponwithdrawalfromorterminationofthePlan.Exceptasdescribedbelowunder“—Non-U.S.Holders—U.S.TradeorBusinessIncome,”aNon-U.S.HoldergenerallywillnotbesubjecttoU.S.federalincomeorwithholdingtaxinrespectofanygainonasale,exchangeorotherdispositionofsharesofcommonstockunless:(i)thegainisU.S.tradeorbusinessincome;(ii)suchNon-U.S.HolderisanindividualwhoispresentintheUnitedStatesfor183ormoredaysinthetaxableyearofthedispositionandcertainotherconditionsaremet;or(iii)certainotherconditionsapply.EachNon-U.S.Holderisurgedtoconsultitsowntaxadvisorwithrespecttothetaxconsequencestoitofthedispositionofitssharesofcommonstock.
U.S. Trade or Business Income
Ifdividendincomeorgainonthesale,exchangeorothertaxabledispositionofsharesofcommonstockiseffectivelyconnectedwithaNon-U.S.Holder’sconductofatradeorbusinessintheUnitedStates(and,ifrequiredbyanapplicableincometaxtreaty,isattributabletoaU.S.permanentestablishmentorfixedbasemaintainedbytheholder),suchNon-U.S.HolderwillgenerallybetaxedinthesamemannerasaU.S.Holder(see“—U.S.Holders—AmountIncludibleinIncome”above).CorporateNon-U.S.Holdersmayalsobesubjecttoanadditional“branchprofitstax”ata30%rate(oratalowerrateprescribedbyanapplicableincometaxtreaty)withrespecttotheirU.S.tradeorbusinessincome.
U.S. Information Reporting, Backup Withholding and FATCA
Paymentsofdividendsonsharesofcommonstockwillnotbesubjecttobackupwithholding,providedtheapplicablewithholdingagentdoesnothaveactualknowledgeorreasontoknowthattheholderisaUnitedStatespersonandtheholdereithercertifiesitsnon-U.S.status,suchasbyfurnishingavalidapplicableIRSFormW-8(orotherapplicablesuccessorform)orotherwiseestablishesanexemption.However,informationreturnsarerequiredtobefiledwiththeIRSinconnectionwithanydividendsonsharesofcommonstockpaidtoaNon-U.S.Holder,regardlessofwhetheranytaxwasactuallywithheld.
Inaddition,proceedsofthesaleorothertaxabledispositionofsharesofcommonstockwithintheUnitedStatesorconductedthroughcertainU.S.-relatedbrokersgenerallywillnotbesubjecttobackupwithholdingorinformationreporting,iftheapplicablewithholdingagentreceivesthecertificationdescribedaboveanddoesnothaveactualknowledgeorreasontoknowthatsuchholderisaUnitedStatesperson,ortheholderotherwiseestablishesanexemption.Proceedsofadispositionofsharesofcommonstockconductedthroughanon-U.S.officeofanon-U.S.brokergenerallywillnotbesubjecttobackupwithholdingorinformationreporting.
AdditionallypursuanttotheForeignAccountTaxComplianceAct(“FATCA”),foreignfinancialinstitutions(whichincludemostforeignhedgefunds,privateequityfunds,mutualfunds,securitizationvehiclesandanyotherinvestmentvehicles)andcertainotherforeignentitiesmustcomplywithinformationreportingruleswithrespecttotheirU.S.accountholdersandinvestorsorconfrontawithholdingtaxonU.S.sourcepaymentsmadetothem(whetherreceivedasabeneficialownerorasanintermediaryforanotherparty).Morespecifically,aforeignfinancialinstitutionorotherforeignentitythatdoesnotcomplywiththeFATCAreportingrequirementswillgenerallybesubjecttoa30%withholdingtaxwithrespecttoany“withholdablepayment.”Forthispurpose,withholdablepaymentsincludegenerallyU.S.-sourcepaymentsotherwisesubjecttononresidentwithholdingtax(e.g.,U.S.-sourcedividends)andalsoincludetheentiregrossproceedsfromthesaleorotherdispositionofanyequityinstrumentsofU.S.issuers.TheU.S.DepartmentoftheTreasuryrecentlyreleasedproposedregulationswhich,iffinalizedintheirpresentform,wouldeliminatetheU.S.federalwithholdingtaxapplicabletothegrossproceedsofasaleordispositionofequity.Initspreambletotheproposedregulations,theU.S.Treasurystatedthattaxpayersmaygenerallyrelyontheproposedregulationsuntilfinalregulationsareissued.
CopiesofinformationreturnsthatarefiledwiththeIRSmayalsobemadeavailableundertheprovisionsofanapplicabletreatyoragreementtothetaxauthoritiesofthecountryinwhichtheNon-U.S.Holderresidesorisestablished.AnintergovernmentalagreementbetweentheUnitedStatesandanapplicableforeigncountrymay
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modifytherequirementsdescribedabove.Undercertaincircumstances,aNon-U.S.Holdermaybeeligibleforrefundsorcreditsofthewithholdingtaxesdescribedabove,andaNon-U.S.HoldermightberequiredtofileaU.S.federalincometaxreturntoclaimsuchrefundsorcredits.
Non-U.S.Holdersareurgedtoconsulttheirowntaxadvisorsregardingthepossibleimplicationsofinformationreporting,backwithholdingandFATCAwithrespecttotheirparticipationinthePlan.
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PLAN OF DISTRIBUTION
Subjecttothediscussionbelow,wewilldistributenewlyissuedsharesofcommonstocksoldunderthePlan.YouwillpaynoservicefeesorbrokeragetradingfeesforthesharesofcommonstockyouwillacquirepursuanttothePlan.WewillpayallbrokeragetradingfeesorotherchargesonsharesofcommonstockpurchasedthroughthePlan.However,ifyouareparticipatinginthePlanthroughyourbroker,youmaybechargedafeebyyourbrokerforparticipatinginthePlanonyourbehalf.Additionally,ifyourequestthatyoursharesofcommonstockheldbytheAdministratorbesold,youwillreceivetheproceedslessaservicefeeof$15.00andanybrokeragetradingfees,whicharecurrentlysetat$0.12pershareofcommonstock.OursharesofcommonstockarecurrentlylistedontheNYSE.
PersonswhoacquiresharesofcommonstockthroughthePlanandresellthemshortlyafteracquiringthem,includingcoverageofshortpositions,undercertaincircumstances,maybeparticipatinginadistributionofsecuritiesthatwouldrequirecompliancewithRegulationMundertheExchangeAct,andmaybeconsideredtobeunderwriterswithinthemeaningoftheSecuritiesActof1933,asamended.Wewillnotextendtoanysuchpersonanyrightsorprivilegesotherthanthosetowhichhe,sheoritwouldbeentitledasaparticipant,norwillweenterintoanyagreementwithanysuchpersonregardingtheresaleordistributionbyanysuchpersonofthesharesofcommonstock.
Wehavenoarrangementsorunderstandings,formalorinformal,withanypersonrelatingtothesaleofoursharesofcommonstocktobereceivedunderthePlan.Wereservetherighttomodify,suspendorterminateparticipationinthePlanbyotherwiseeligiblepersonstoeliminatepracticesthatareinconsistentwiththepurposesofthePlan.
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LEGAL MATTERS
ThevalidityofthesharesofferedbythisprospectuswillbepasseduponforusbyPaul,Weiss,Rifkind,Wharton&GarrisonLLP,NewYork,NewYork.
EXPERTS
TheconsolidatedfinancialstatementsofADTInc.andsubsidiariesincorporatedinthisprospectusbyreferencetoADTInc.’sAnnualReportonForm10-KforthefiscalyearendedDecember31,2018havebeensoincorporatedinrelianceonthereportofPricewaterhouseCoopersLLP,anindependentregisteredpublicaccountingfirm,givenontheauthorityofsaidfirmasexpertsinauditingandaccounting.
TheconsolidatedfinancialstatementsofTheADTCorporationasofSeptember25,2015andSeptember26,2014,andforeachofthethreeyearsintheperiodendedSeptember25,2015,incorporatedbyreferenceinthisprospectus,havebeenauditedbyDeloitte&ToucheLLP,anindependentregisteredpublicaccountingfirm,asstatedintheirreportincorporatedhereinbyreference.Suchfinancialstatementshavebeensoincludedinrelianceuponthereportofsuchfirmgivenupontheirauthorityasexpertsinaccountingandauditing.
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18,750,000 Shares
ADT Inc.
Common Stock
PROSPECTUS
March 22, 2019
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PART IIINFORMATION NOT REQUIRED IN PROSPECTUS
Item 14. Other Expenses of Issuance and Distribution.
SetforthbelowisatableoftheregistrationfeefortheSECandestimatesofallotherexpensestobepaidbytheregistrantinconnectionwiththeissuanceanddistributionofthesecuritiesdescribedintheregistrationstatement:
SECregistrationfee $ 14,458Stockexchangelistingfee 1,500Printingexpenses 0Legalfeesandexpenses 0Accountingfeesandexpenses 100,000Miscellaneous 5,000
Total $ 120,958
Item 15. Indemnification of Directors and Officers.
Section145oftheDelawareGeneralCorporationLaw(the“DGCL”)providesthatacorporationmayindemnifydirectorsandofficersaswellasotheremployeesandindividualsagainstexpenses(includingattorneys’fees),judgments,finesandamountspaidinsettlementactuallyandreasonablyincurredbysuchpersoninconnectionwithanythreatened,pendingorcompletedactions,suitsorproceedingsinwhichsuchpersonismadeapartybyreasonofsuchpersonbeingorhavingbeenadirector,officer,employeeoragenttotheRegistrant.TheDGCLprovidesthatSection145isnotexclusiveofotherrightstowhichthoseseekingindemnificationmaybeentitledunderanybylaw,agreement,voteofstockholdersordisinteresteddirectorsorotherwise.TheCompany’samendedandrestatedbylawsprovideforindemnificationbytheregistrantofitsdirectors,officers,andemployeestothefullestextentpermittedbytheDGCL.
Section102(b)(7)oftheDelawareGeneralCorporationLawpermitsacorporationtoprovideinitscertificateofincorporationthatadirectorofthecorporationshallnotbepersonallyliabletothecorporationoritsstockholdersformonetarydamagesforbreachoffiduciarydutyasadirector,exceptforliability(i)foranybreachofthedirector’sdutyofloyaltytothecorporationoritsstockholders,(ii)foractsoromissionsnotingoodfaithorwhichinvolveintentionalmisconductoraknowingviolationoflaw,(iii)forunlawfulpaymentsofdividendsorunlawfulstockrepurchases,redemptionsorotherdistributions,or(iv)foranytransactionfromwhichthedirectorderivedanimproperpersonalbenefit.TheCompany’samendedandrestatedcertificateofincorporationprovidesforsuchlimitationofliability.
TheCompanymaintainsstandardpoliciesofinsuranceunderwhichcoverageisprovided(a)toitsdirectorsandofficersagainstlossrisingfromclaimsmadebyreasonofbreachofdutyorotherwrongfulact,and(b)totheCompanywithrespecttopaymentswhichmaybemadebytheCompanytosuchofficersanddirectorspursuanttotheaboveindemnificationprovisionorotherwiseasamatteroflaw.
ReferenceismadetoItem17forourundertakingswithrespecttoindemnificationforliabilitiesarisingundertheSecuritiesAct.
Wehaveenteredintocustomaryindemnificationagreementswithourexecutiveofficersanddirectorsthatprovidethem,ingeneral,withcustomaryindemnificationinconnectionwiththeirservicetousoronourbehalf.
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Item 16. Exhibits.
(a)Exhibits
TheexhibitsrequiredtobefiledpursuanttotherequirementsofItem601ofRegulationS-KaresetforthintheExhibitIndexaccompanyingthisRegistrationStatementonFormS-3andareincorporatedhereinbyreference.
Item 17. Undertakings
(a)Theundersignedregistrantherebyundertakes:
(1)Tofile,duringanyperiodinwhichoffersorsalesarebeingmade,apost-effectiveamendmenttothisregistrationstatement:
(i)ToincludeanyprospectusrequiredbySection10(a)(3)oftheSecuritiesActof1933,asamended,(the“SecuritiesAct”);
(ii)Toreflectintheprospectusanyfactsoreventsarisingaftertheeffectivedateoftheregistrationstatement(orthemostrecentpost-effectiveamendmentthereof)which,individuallyorintheaggregate,representafundamentalchangeintheinformationsetforthintheregistrationstatement.Notwithstandingtheforegoing,anyincreaseordecreaseinvolumeofsecuritiesoffered(ifthetotaldollarvalueofsecuritiesofferedwouldnotexceedthatwhichwasregistered)andanydeviationfromtheloworhighendoftheestimatedmaximumofferingrangemaybereflectedintheformofprospectusfiledwiththeSECpursuanttoRule424(b)if,intheaggregate,thechangesinvolumeandpricerepresentnomorethana20%changeinthemaximumaggregateofferingpricesetforthinthe“CalculationofRegistrationFee”tableintheeffectiveregistrationstatement;and
(iii)Toincludeanymaterialinformationwithrespecttotheplanofdistributionnotpreviouslydisclosedintheregistrationstatementoranymaterialchangetosuchinformationintheregistrationstatement;
provided,however,thatparagraphs(1)(i),(1)(ii)and(1)(iii)donotapplyiftheinformationrequiredtobeincludedinapost-effectiveamendmentbythoseparagraphsiscontainedinreportsfiledwithorfurnishedtotheSECbyaregistrantpursuanttoSection13orSection15(d)oftheExchangeActthatareincorporatedbyreferenceintheregistrationstatement,oriscontainedinaformofprospectusfiledpursuanttoRule424(b)thatispartoftheregistrationstatement.
(2)That,forthepurposeofdetermininganyliabilityundertheSecuritiesAct,eachsuchpost-effectiveamendmentshallbedeemedtobeanewregistrationstatementrelatingtothesecuritiesofferedtherein,andtheofferingofsuchsecuritiesatthattimeshallbedeemedtobetheinitialbonafideofferingthereof.
(3)Toremovefromregistrationbymeansofapost-effectiveamendmentanyofthesecuritiesbeingregisteredwhichremainunsoldattheterminationoftheoffering.
(4)That,forthepurposeofdeterminingliabilityundertheSecuritiesActtoanypurchaser:
(i)EachprospectusfiledbyaregistrantpursuanttoRule424(b)(3)shallbedeemedtobepartoftheregistrationstatementasofthedatethefiledprospectuswasdeemedpartofandincludedintheregistrationstatement;and
(ii)EachprospectusrequiredtobefiledpursuanttoRule424(b)(2),(b)(5),or(b)(7)aspartofaregistrationstatementinrelianceonRule430BrelatingtoanofferingmadepursuanttoRule415(a)(1)(i),(vii)or(x)forthepurposeofprovidingtheinformationrequiredbySection10(a)oftheSecuritiesActshallbedeemedtobepartofandincludedintheregistrationstatementasoftheearlierofthedatesuchformofprospectusisfirstusedaftereffectivenessorthedateofthefirstcontractofsaleofsecuritiesintheofferingdescribedintheprospectus.AsprovidedinRule430B,forliabilitypurposesoftheissuerandanypersonthatisatthatdateanunderwriter,suchdateshallbedeemedto
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beaneweffectivedateoftheregistrationstatementrelatingtothesecuritiesintheregistrationstatementtowhichthatprospectusrelates,andtheofferingofsuchsecuritiesatthattimeshallbedeemedtobetheinitialbonafideofferingthereof.Provided,however,thatnostatementmadeinaregistrationstatementorprospectusthatispartoftheregistrationstatementormadeinadocumentincorporatedordeemedincorporatedbyreferenceintotheregistrationstatementorprospectusthatispartoftheregistrationstatementwill,astoapurchaserwithatimeofcontractofsalepriortosucheffectivedate,supersedeormodifyanystatementthatwasmadeintheregistrationstatementorprospectusthatwaspartoftheregistrationstatementormadeinanysuchdocumentimmediatelypriortosucheffectivedate.
(5)That,forthepurposeofdeterminingliabilityoftheregistrantundertheSecuritiesActtoanypurchaserintheinitialdistributionofthesecurities,theundersignedregistrantundertakesthatinaprimaryofferingofsecuritiesoftheundersignedregistrantpursuanttothisregistrationstatement,regardlessoftheunderwritingmethodusedtosellthesecuritiestothepurchaser,ifthesecuritiesareofferedorsoldtosuchpurchaserbymeansofanyofthefollowingcommunications,theundersignedregistrantwillbeasellertothepurchaserandwillbeconsideredtoofferorsellsuchsecuritiestosuchpurchaser:
(i)AnypreliminaryprospectusorprospectusoftheundersignedregistrantrelatingtotheofferingrequiredtobefiledpursuanttoRule424;
(ii)Anyfreewritingprospectusrelatingtotheofferingpreparedbyoronbehalfoftheundersignedregistrantorusedorreferredtobytheundersignedregistrant;
(iii)Theportionofanyotherfreewritingprospectusrelatingtotheofferingcontainingmaterialinformationabouttheundersignedregistrantoritssecuritiesprovidedbyoronbehalfoftheundersignedregistrant;and
(iv)Anyothercommunicationthatisanofferintheofferingmadebytheundersignedregistranttothepurchaser.
(b)Theundersignedregistrantherebyfurtherundertakesthat,forpurposesofdetermininganyliabilityundertheSecuritiesAct,eachfilingofaregistrant’sannualreportpursuanttoSection13(a)orSection15(d)oftheExchangeAct(and,whereapplicable,eachfilingofanemployeebenefitplan’sannualreportpursuanttoSection15(d)oftheExchangeAct)thatisincorporatedbyreferenceintheregistrationstatementshallbedeemedtobeanewregistrationstatementrelatingtothesecuritiesofferedtherein,andtheofferingofsuchsecuritiesatthattimeshallbedeemedtobetheinitialbonafideofferingthereof.
(c)Theundersignedregistrantherebyundertakestodeliverorcausetobedeliveredwiththeprospectus,toeachpersontowhomtheprospectusissentorgiven,thelatestannualreporttosecurityholdersthatisincorporatedbyreferenceintheprospectusandfurnishedpursuanttoandmeetingtherequirementsofRule14a-3orRule14c-3undertheSecuritiesExchangeActof1934;and,whereinterimfinancialinformationrequiredtobepresentedbyArticle3ofRegulationS-Xarenotsetforthintheprospectus,todeliver,orcausetobedeliveredtoeachpersontowhomtheprospectusissentorgiven,thelatestquarterlyreportthatisspecificallyincorporatedbyreferenceintheprospectustoprovidesuchinterimfinancialinformation.
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EXHIBIT INDEX5.1 OpinionofPaul,Weiss,Rifkind,Wharton&GarrisonLLPastolegalityofthecommonstock.
23.1 ConsentofPricewaterhouseCoopersLLP,independentregisteredpublicaccountingfirm.
23.2 ConsentofDeloitte&ToucheLLP,independentregisteredcertifiedpublicaccountingfirm.
23.3 ConsentofPaul,Weiss,Rifkind,Wharton&GarrisonLLP(includedinExhibit5.1tothisRegistrationStatement).
24.1 PowerofAttorney(includedonsignaturepagesofthisPartII).
99.1 DividendReinvestmentPlanEnrollmentForm.
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SIGNATURES
PursuanttotherequirementsoftheSecuritiesActof1933,theregistranthasdulycausedthisRegistrationStatementtobesignedonitsbehalfbytheundersigned,thereuntodulyauthorized,inBocaRaton,Floridaonthe22dayofMarch,2019.
ADT Inc.
By:/s/DavidW.SmailDavidW.Smail
ExecutiveVicePresident,ChiefLegalOfficerandSecretary
POWER OF ATTORNEY
KNOWALLPERSONSBYTHESEPRESENTS,thateachindividualwhosesignatureappearsbelowherebyconstitutesandappointsDavidW.Smail,hisorhertrueandlawfulagent,proxyandattorney-in-fact,withfullpowerofsubstitutionandresubstitution,forhimorherandinhisorhername,placeandstead,inanyandallcapacities,to(i)acton,signandfilewiththeSecuritiesandExchangeCommissionanyandallamendments(includingpost-effectiveamendments)tothisregistrationstatementtogetherwithallschedulesandexhibitstheretoandanysubsequentregistrationstatementfiledpursuanttoRule462(b)undertheSecuritiesActof1933,asamended,togetherwithallschedulesandexhibitsthereto,(ii)acton,signandfilesuchcertificates,instruments,agreementsandotherdocumentsasmaybenecessaryorappropriateinconnectiontherewith,(iii)actonandfileanysupplementtoanyprospectusincludedinthisregistrationstatementoranysuchamendmentoranysubsequentregistrationstatementfiledpursuanttoRule462(b)undertheSecuritiesActof1933,asamended,and(iv)takeanyandallactionswhichmaybenecessaryorappropriateinconnectiontherewith,grantinguntosuchagents,proxiesandattorneys-in-fact,andeachofthem,fullpowerandauthoritytodoandperformeachandeveryactandthingnecessaryorappropriatetobedone,asfullyforallintentsandpurposesasheorshemightorcoulddoinperson,herebyapproving,ratifyingandconfirmingallthatsuchagents,proxiesandattorneys-in-factoranyoftheirsubstitutesmaylawfullydoorcausetobedonebyvirtuethereof.
PursuanttotherequirementsoftheSecuritiesActof1933,thisRegistrationStatementhasbeensignedbythefollowingpersonsinthecapacitiesandonthedatesindicated.
Signature Title Date
/s/JamesD.DeVriesJamesD.DeVries
President,ChiefExecutiveOfficerandDirector(PrincipalExecutiveOfficer)
March22,2019
/s/JeffreyLikosarJeffreyLikosar
ChiefFinancialOfficer(PrincipalFinancialandAccountingOfficer)
March22,2019
/s/MarcE.BeckerMarcE.Becker
Director
March22,2019
/s/AndrewD.AfrickAndrewD.Africk
Director
March22,2019
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Signature Title Date
/s/StephanieDrescherStephanieDrescher
Director
March22,2019
/s/TraceyGriffinTraceyGriffin
Director
March22,2019
/s/MatthewH.NordMatthewH.Nord
Director
March22,2019
/s/EricL.PressEricL.Press
Director
March22,2019
/s/ReedB.RaymanReedB.Rayman
Director
March22,2019
/s/DavidRyanDavidRyan
Director
March22,2019
/s/LeeJ.SolomonLeeJ.Solomon
Director
March22,2019
/s/TimothyJ.WhallTimothyJ.Whall
Director
March22,2019
/s/MatthewE.WinterMatthewE.Winter
Director
March22,2019
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Exhibit 5.1
212-373-3000
212-757-3990
March22,2019
ADTInc.1501YamatoRoadBocaRaton,Florida33431
RegistrationStatementonFormS-3(RegistrationNo.333-)
LadiesandGentlemen:
WehaveactedascounseltoADTInc.,aDelawarecorporation(the“Company”)inconnectionwiththeRegistrationStatementonFormS-3,asamended(the“RegistrationStatement”)oftheCompany,filedwiththeSecuritiesandExchangeCommissionpursuanttotheSecuritiesActof1933,asamended(the“Act”),andtherulesandregulationsthereunder(the“Rules”).YouhaveaskedustofurnishouropinionastothelegalityofthesecuritiesbeingregisteredundertheRegistrationStatement.TheRegistrationStatementrelatestotheregistrationundertheActofupto18,750,000shares(the“Shares”)oftheCompany’scommonstock,parvalue$0.01pershare(the“CommonStock”),thatmaybeofferedbytheCompanypursuanttotheCompany’sDividendReinvestmentPlanapprovedbytheboardofdirectorsoftheCompanyonMarch22,2019(the“Plan”).
Inconnectionwiththefurnishingofthisopinion,wehaveexaminedoriginals,orcopiescertifiedorotherwiseidentifiedtooursatisfaction,ofthefollowingdocuments(collectively,the“Documents”):
1.theRegistrationStatement;and
2.theformofthePlan.
Inaddition,wehaveexamined(i)suchcorporaterecordsoftheCompanythatwehaveconsideredappropriate,includingacopyoftheamendedandrestatedcertificateofincorporationandamendedandrestatedbylawsoftheCompany,certifiedbytheCompanyasineffectonthedateofthisletterandcopiesofresolutionsoftheboardofdirectorsoftheCompanyrelatingtotheissuanceoftheShares,certifiedbytheCompanyand(ii)suchothercertificates,agreementsanddocumentsthatwedeemedrelevantandnecessaryasabasisfortheopinionsexpressedbelow.WehavealsorelieduponthefactualmatterscontainedintherepresentationsandwarrantiesoftheCompanymadeintheDocumentsanduponcertificatesofpublicofficialsandtheofficersoftheCompany.
Inourexaminationofthedocumentsreferredtoabove,wehaveassumed,withoutindependentinvestigation,thegenuinenessofallsignatures,thelegalcapacityofallindividualswhohaveexecutedanyofthedocumentsreviewedbyus,theauthenticityofalldocumentssubmittedtousasoriginals,theconformitytotheoriginalsofalldocumentssubmittedtousascertified,photostatic,reproducedorconformedcopiesofvalidexistingagreementsorotherdocuments,theauthenticityofallthelatterdocumentsandthatthestatementsregardingmattersoffactinthecertificates,records,agreements,instrumentsanddocumentsthatwehaveexaminedareaccurateandcomplete.
Basedupontheabove,andsubjecttothestatedassumptions,exceptionsandqualifications,weareoftheopinionthattheShareshavebeendulyauthorizedbyallnecessarycorporateactiononthepartoftheCompanyand,whenissued,deliveredandpaidforascontemplatedintheRegistrationStatementandinaccordancewiththetermsofthePlan,theShareswillbevalidlyissued,fullypaidandnon-assessable.
TheopinionexpressedaboveislimitedtotheGeneralCorporationLawoftheStateofDelaware.Ouropinionisrenderedonlywithrespecttothelaws,andtherules,regulationsandordersunderthoselaws,thatarecurrentlyineffect.
WeherebyconsenttouseofthisopinionasanexhibittotheRegistrationStatementandtotheuseofournameundertheheading“LegalMatters”containedintheprospectusincludedintheRegistrationStatement.Ingivingthisconsent,wedonottherebyadmitthatwecomewithinthecategoryofpersonswhoseconsentisrequiredbytheActortheRules.
Verytrulyyours,
/s/Paul,Weiss,Rifkind,Wharton&GarrisonLLPPAUL,WEISS,RIFKIND,WHARTON&GARRISONLLP
Exhibit 23.1
CONSENTOFINDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM
WeherebyconsenttotheincorporationbyreferenceinthisRegistrationStatementonFormS-3ofADTInc.ofourreportdatedMarch11,2019relatingtothefinancialstatements,whichappearsinADTInc.’sAnnualReportonForm10-KfortheyearendedDecember31,2018.Wealsoconsenttothereferencetousundertheheading“Experts”insuchRegistrationStatement.
/s/PricewaterhouseCoopersLLP
FortLauderdale,FloridaMarch22,2019
Exhibit 23.2
CONSENTOFINDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM
WeconsenttotheincorporationbyreferenceinthisRegistrationStatementonFormS-3ofADTInc.ofourreportdatedNovember12,2015relatingtotheconsolidatedfinancialstatementsofTheADTCorporationandsubsidiariesappearingintheProspectusincludedinRegistrationStatementNo.333-222233onFormS-1ofADTInc.andtothereferencetousundertheheading“Experts”inthisProspectus,whichispartofthisRegistrationStatement.
/s/Deloitte&ToucheLLPBocaRaton,FloridaMarch22,2019
Exhibit 99.1
CO#21971
DIVIDEND REINVESTMENT PLAN FOR SHARES OF COMMON STOCK OF
ADT Inc.
ENROLLMENT APPLICATION
I (We) hereby appoint American Stock Transfer & Trust Company, LLC as my (our ) Agent under the terms and conditions of the Plan, as described in thePlan which accompanied this form, to apply cash distributions of shares of common stock, par value $0.01 of ADT Inc. as indicated below.
NO INTEREST WILL BE PAID ON THE FUNDS HELD PENDING INVESTMENT.
This form, when completed and signed, should be mailed in the blue envelope provided. Please affix postage to ensure properprocessing. If you do not have the envelope, mail your form to:
ADT Inc.C/O American Stock Transfer & Trust Company, LLCP.O. Box 922, Wall Street Station, New York, New York 10269-0560Attn: Plan Administration Department
If your name is preprinted above, it is for mailing purposes only. Please complete one of the boxes below for the exact account registration.
ACCOUNT’S REGISTRATION (NAME):
ACCOUNT NUMBER:
SIGNATURE(s) All Joint Owners Must Sign
Please enroll this account as follows: Check one box only ☒.
If you do not check any box, then FULL DISTRIBUTION REINVESTMENT will beassumed.
☐ FULL DIVIDEND REINVESTMENT Reinvest all dividends for this account.
☐ PARTIAL DIVIDEND REINVESTMENT
Reinvest dividends on____________shares of common stock held by me and on all sharesof common stock held by you as Agent and pay distributions in cash on all remainingcommon stock held by me. You must reinvest distributions on a minimum of 10% of thecommon stock in your Plan account.
☐ NO DISTRIBUTION REINVESTMENT All distributions will be paid in cash.