MAX CAPITAL GROUP LTD. 4
4 · MAX CAPITAL GROUP LTD. · Filed Mar 18, 2010
Insider Transaction Report
Form 4
BACON LOUIS M
10% Owner
Transactions
- Exercise of In-Money
Common Shares
2010-03-16$15.00/sh+920,543$13,808,145→ 7,962,196 total(indirect: See Footnotes) - Sale
Common Shares
2010-03-16$23.80/sh−580,223$13,809,307→ 7,381,973 total(indirect: See Footnotes) - Other
Common Shares
2010-03-16−171,902→ 7,041,653 total(indirect: See Footnotes) - Exercise of In-Money
Common Share Warrants (right to buy)
2010-03-16−920,543→ 0 total(indirect: See Footnotes)Exercise: $15.00Exp: 2010-03-31→ Common Shares (920,543 underlying)
Holdings
- 666,667(indirect: See Footnotes)
Common Shares
- 1,666,667(indirect: See Footnotes)
Common Shares
Footnotes (8)
- [F1]374,986 shares of these securities are held by Kendall Family Investments, LLC, a Delaware limited liability company ("Kendall"), and the remaining securities are held by Moore Holdings, LLC, a Delaware limited liability company ("Moore Holdings"). The Reporting Person is the majority equity holder of Kendall which is the managing member of Moore Holdings.
- [F2]On March 16, 2010, Moore Holdings distributed 546,888 of the Issuer's common shares pro rata to its members for no consideration, including 374,986 common shares to Kendall.
- [F3]Reflects the exercise of warrants using a cashless exercise feature resulting in a net issuance of 340,320 common shares of the Issuer.
- [F4]These securities are held by Moore Global Investment, Ltd., an international business company organized under the laws of the Bahamas ("MGI"). The Reporting Person serves as chief executive officer and director and indirectly controls the limited partnership which serves as discretionary investment manager to MGI.
- [F5]These securities are held by Remington Investment Strategies, L.P., a Delaware limited partnership ("Remington"). The Reporting Person indirectly controls the limited liability company that serves as general partner of Remington.
- [F6]The warrants were exercisable into common shares of the Issuer at any time at the option of the holder.
- [F7]The filing of this statement shall not be deemed an admission that the Reporting Person is the beneficial owners of any securities not held directly for his account for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise.
- [F8]These securities are held by Moore Holdings.