3//SEC Filing
North American Insurance Leaders, Inc. 3
Accession 0000947871-06-000561
CIK 0001336249operating
Filed
Mar 20, 7:00 PM ET
Accepted
Mar 21, 9:47 PM ET
Size
8.8 KB
Accession
0000947871-06-000561
Insider Transaction Report
Form 3
Lauricella Francis Edward Jr
DirectorExecutive President10% Owner
Holdings
- (indirect: By Trust)
D&O Rights
Exercise: $6.00→ Common Stock (1,159,326 underlying) - 57,500(indirect: By Trust)
Common Stock
- 669,563(indirect: By Trust)
Common Stock
Footnotes (5)
- [F1]The D&O rights will be automatically converted into D&O warrants on the 120th day following the effective date of the offering. The conversion ratio of D&O rights into D&O warrants will be calculated by dividing $1.00 by the conversion price. The conversion price is equal to the weighted average of all sale prices of the warrants as reported on the AMEX or elsewhere during the 20 trading days prior to the conversion date. In no event will a D&O right be converted into more than three D&O warrants.
- [F2]The D&O warrants become exercisable on the later of the completion of our initial business or March 21, 2007.
- [F3]The D&O warrants expire on March 21, 2010, or earlier upon redemption.
- [F4]The reporting person disclaims all beneficial ownership in the above reported Common Stock. His sister is trustee of the trusts, created for the benefit of his children, which own the Common Stock mentioned above. This report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F5]Up to 1,159,326.
Documents
Issuer
North American Insurance Leaders, Inc.
CIK 0001336249
Entity typeoperating
Related Parties
1- filerCIK 0001336249
Filing Metadata
- Form type
- 3
- Filed
- Mar 20, 7:00 PM ET
- Accepted
- Mar 21, 9:47 PM ET
- Size
- 8.8 KB