HILB ROBERT H 4
4 · HILB ROGAL & HOBBS CO · Filed Jan 3, 2007
Insider Transaction Report
Form 4
HILB ROBERT H
Director
Transactions
- Small Acquisition
Common Stock
2007-01-01$42.12/sh+16.61$700→ 2,966 total(indirect: By Trust) - Award
Common Stock
2007-01-01$42.12/sh+499$21,018→ 119,008 total - Disposition to Issuer
Common Stock
2007-01-01$42.12/sh−2,966$124,928→ 0 total(indirect: By Trust)
Holdings
- 10,000
Stock Options (Right to buy)
Exercise: $8.81From: 1998-11-06Exp: 2008-05-06→ Common Stock (10,000 underlying) - 20,000(indirect: By Spouse)
Common Stock
Footnotes (4)
- [F1]Nonemployee Directors Stock Incentive Plan grants shares of common stock of Company to Director in lieu of cash fees. Grants are increased by 20% if director elects to receive 100% of cash compensation in common stock to encourage maximization of at-risk compensation. Shares are physically issued quarterly and are rounded down to the nearest whole number.
- [F2]Shares are issued under this plan quarterly and rounded down to the nearest whole share.
- [F3]Correction of a clerical error.
- [F4]Directors' Deferred Plan purchases common stock of Company, which is held in trust under the terms of the Hilb, Rogal and Hamilton Amended and Restated Outside Directors Deferral Plan. Directors electing to receive 100% of compensation in common stock receive a 30% bonus grant of stock to encourage maximazation of at-risk compensation. Dividends are reinvested by the trustee. Deferred stock will be paid out in shares at the time selected by the director, either a lump sum or a series of distributions over a period of years.