BALDWIN & LYONS INC 4
4 · BALDWIN & LYONS INC · Filed Nov 25, 2014
Insider Transaction Report
Form 4
BALDWIN & LYONS INCBWINA / B
SHAPIRO NATHAN
Director10% Owner
Transactions
- Purchase
Class A Common Stock
2014-11-24$23.49/sh+2,109$49,549→ 239,296 total(indirect: Various)
Holdings
- 146,645
Class A Common Stock
- 755,009(indirect: Various)
Class A Common Stock
- 107,366
Class B Common Stock
- 1,799,375(indirect: Various)
Class B Common Stock
- 46,875
Right to sell (put)
From: 1981-12-31→ Class A Common (46,875 underlying) - 613,125(indirect: Various)
Class B Common Stock
- 187,500
Right to sell (put)
From: 1981-12-31→ Class B Common (187,500 underlying)
Footnotes (3)
- [F1]Owned by (a) New Horizons, Inc., (44,859 shares of Class A and 32,000 shares of class B) of which the undersigned is controlling stockholder; (b) Illinois Diversified, (21,375 shares of Class A and 85,500 shares of Class B) a general partnership as to which beneficial ownership is held by the undersigned; and (c) NS Associates, Inc., (173,062 shares of Class A and 495,625 shares of Class B) of which the undersigned is the controlling shareholder.
- [F2]All puts are exercisable at any time at 90% of the Company's most recently published quarterly book value prior to the date of exercise. These rights have no expiration date.
- [F3]Owned by (a) Gelbart Fur Dressers (not Inc.), (178,500 shares of Class A and 714,000 shares of Class B) and Jay Ell Company (not Inc.), (41,250 shares of Class A and 165,000 shares of Class B) limited partnerships; (b) Diversified Enterprises (not Inc.), (178,125 shares of Class A and 559,500 shares of Class B) a general partnership; (c) Shapiro Family L.P. - Gift Share (353,250 shares of Class A and 360,875 shares of Class B); ) and (d) Emlin Cosmetics, Inc. (3,884 shares of Class A). Beneficial ownership is shared by the undersigned and other family members for all shares owned by these entities.