4//SEC Filing
PXRE GROUP LTD 4
Accession 0000905148-06-004232
CIK 0001091748operating
Filed
Jun 1, 8:00 PM ET
Accepted
Jun 2, 5:31 PM ET
Size
8.5 KB
Accession
0000905148-06-004232
Insider Transaction Report
Form 4
Transactions
- Award
Common Stock
2006-05-09$3.78/sh−5,000$18,900→ 17,500 total - Other
Stock Option (Right to Buy)
2006-05-09$3.78/sh−7,148$27,019→ 32,148 totalExercise: $0.00From: 2007-05-09Exp: 2016-05-09→ Common Stock (7,148 underlying)
Footnotes (2)
- [F1]Under the terms of the PXRE Group Ltd. Director Stock Plan (the "Plan"), each member of the Board of Directors of PXRE Group Ltd. (the "Company") automatically received a grant of 2,500 restricted common shares of the Company and 3,574 options to purchase common shares of the Company at the PXRE Group Ltd. Annual General Meeting on May 9, 2006. 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, Capital Z Financial Services Fund II, is the employer of Bradley Cooper and Jonathan Kelly, the Capital Z designees to the PXRE Group Ltd. Board of Directors.
- [F2]The 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. Each of Capital Z Management, LLC and Capital Z Financial Services Fund II disclaims beneficial ownership of the reported common shares of the Company (the "Common Shares") except to the extent of its pecuniary interest therein, and the inclusion of such Common Shares in this report shall not be deemed an admission of beneficial ownership of such Common Shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
Documents
Issuer
PXRE GROUP LTD
CIK 0001091748
Entity typeoperating
Related Parties
1- filerCIK 0001091748
Filing Metadata
- Form type
- 4
- Filed
- Jun 1, 8:00 PM ET
- Accepted
- Jun 2, 5:31 PM ET
- Size
- 8.5 KB