1347 Property Insurance Holdings, Inc. 4
4 · 1347 Property Insurance Holdings, Inc. · Filed Jun 2, 2015
Insider Transaction Report
Form 4
Raucy Douglas N
DirectorPresident and CEO
Transactions
- Award
Restricted Stock Units
2015-05-29+12,500→ 12,500 total→ Common Stock (12,500 underlying) - Award
Option (right to buy
2015-06-01+66,066→ 66,066 totalExercise: $8.00From: 2014-03-31Exp: 2015-12-15→ Common Stock (66,066 underlying) - Disposition to Issuer
Option (right to buy)
2015-06-01−66,066→ 0 totalExercise: $8.00From: 2014-03-31Exp: 2015-06-15→ Common Stock (66,066 underlying)
Footnotes (4)
- [F1]Each restricted stock unit represents a contingent right to receive one share of the Company's common stock.
- [F2]50% of the shares of common stock will be issued following the date that the closing price of the Company's common stock on the NASDAQ or any other national securities exchange on which the common stock is traded equals or exceeds $10.00 per share and 50% of the shares of common stock will be issued following the date that the closing price of the Company's common stock on the NASDAQ or any other national securities exchange on which the common stock is traded equals or exceeds $12.00 per share.
- [F3]The reported transactions involved an amendment of an outstanding option, resulting in a deemed calcellation of the "old" option and the grant of a replacement option.
- [F4]Upon exercise of the option to purchase, 33,033 shares of common stock for $8.00 per share, the Reporting Person is entitled to receive an award of 33,033 additional shares of restricted common stock within 30 days.