CAPITAL Z FINANCIAL SERVICES FUND II LP 4
4 · PXRE GROUP LTD · Filed May 16, 2005
Insider Transaction Report
Form 4
Transactions
- Other
Stock Option (Right to Buy)
2005-04-26$23.74/sh+10,000$237,400→ 25,000 totalExercise: $0.00From: 2006-04-26Exp: 2015-04-26→ Common Stock (10,000 underlying) - Award
Common Stock
2005-04-26$23.74/sh+5,000$118,700→ 12,500 total
Footnotes (2)
- [F1]Under the terms of the PXRE Group Ltd. Director Stock Plan (the "Plan"), members of the Board of Directors of PXRE Group, Ltd. are automatically entitled to receive annually a grant of 2,500 restricted common shares of PXRE Group, Ltd. Section 9.2 of the Plan permits certain directors to cause such restricted common shares to be granted directly to their employers (or to affiliates of their employers) subject to the same terms and conditions under the Plan as would apply if the director had retained such restricted common shares personally. The Reporting Person is the employer of Bradley Cooper and Jonathan Kelly, the Capital Z designees to the PXRE Group Ltd. Board of Directors.
- [F2]Restricted Common Shares and Stock Options are actually being issued to Capital Z Management, LLC, the investment manager of Capital Z Financial Services Fund II.