4//SEC Filing
Flagstone Reinsurance Holdings Ltd 4
Accession 0000919574-09-016854
CIK 0001347815operating
Filed
Dec 21, 7:00 PM ET
Accepted
Dec 22, 1:49 PM ET
Size
6.9 KB
Accession
0000919574-09-016854
Insider Transaction Report
Form 4
THORN WRAY T
Director
Transactions
- Other
Common Shares
2009-12-16$10.81/sh−3,959$42,797→ 1,438,668 total(indirect: See Footnote)
Footnotes (4)
- [F1]This transaction represents a sale by Marathon Special Opportunity Master Fund, Ltd. (the "Master Fund") and/or Marathon Special Opportunity Liquidating Fund, Ltd. (the "Liquidating Fund" and together with the Master Fund, the "Funds").
- [F2]As of December 18, 2009, the Funds held, in the aggregate 1,438,668 common shares of Flagstone Reinsurance Holdings Limited (the "Company"). The reporting person is a director of the Company. The reporting person does not individually hold or otherwise beneficially own any securities of the Company. The reporting person is an employee of Marathon Asset Management, L.P. (formerly known as Marathon Asset Management, LLC, the "Investment Manager"), which serves as the investment manager of the Funds.
- [F3]The Funds own certain securities of the Company, all of which are subject to the sole voting and investment authority of the Investment Manager. Thus, for the purposes of Reg. Section 240.13d-3, the Investment Manager is deemed to beneficially own the securities of the Company held by the Funds, and the reporting person hereby disclaims beneficial ownership of the securities of the Company held by the Funds except to the extent of his pecuniary interest therein.
- [F4]Pursuant to a separate agreement entered into by the Investment Manager and a former investor of the Funds (the "Agreement"), the Funds effectively transferred 3,959 common shares of the Company to such former investor on December 16, 2009 based on a redemption date as of November 30, 2009. The Agreement provides that such 3,959 common shares of the Company be valued as of their closing price on November 30, 2009, which was the effective date of such former investor's complete redemption from the Funds. Accordingly, the price listed in column 4 represents the closing price of the common shares of the Company as of November 30, 2009.
Documents
Issuer
Flagstone Reinsurance Holdings Ltd
CIK 0001347815
Entity typeoperating
IncorporatedLuxembourg
Related Parties
1- filerCIK 0001347815
Filing Metadata
- Form type
- 4
- Filed
- Dec 21, 7:00 PM ET
- Accepted
- Dec 22, 1:49 PM ET
- Size
- 6.9 KB