Essent Group Ltd. 4
4 · Essent Group Ltd. · Filed Nov 5, 2013
Insider Transaction Report
Form 4
MARZOL ADOLFO
Executive Vice President
Transactions
- Award
Common Shares, par value $0.015
2013-11-05+75,000→ 529,824 total - Conversion
Common Shares, par value $0.015
2013-11-05+93,654→ 93,654 total - Conversion
Class A Common Shares
2013-11-05−68,723→ 0 total→ Common Shares (93,654 underlying) - Conversion
Class B-2 Common Shares
2013-11-05−926,966→ 0 total→ Common Shares (361,170 underlying) - Conversion
Common Shares, par value $0.015
2013-11-05+361,170→ 454,824 total
Footnotes (4)
- [F1]The Class A Common Shares automatically converted into Common Shares, par value $0.015, after giving effect to the 2 for 3 share split, immediately prior to consummation of the issuer's initial public offering.
- [F2]The Class B-2 Common Shares that are eligible to vest under the issuer's Amended and Restated 2009 Restricted Share Plan (the "2009 Plan") automatically converted into Common Shares, par value $0.015, after giving effect to the 2 for 3 share split, immediately prior to consummation of the issuer's initial public offering and any Class B-2 Common Shares that are not eligible to vest under the 2009 Plan were forfeited immediately prior to consummation of the issuer's initial public offering.
- [F3]Represents restricted shares granted under the issuer's 2013 Long-Term Incentive Plan effective immediately prior to the consummation of the issuer's initial public offering, including 37,500 restricted shares subject to time-based and performance-based percentage vesting, with any shares becoming earned based upon the issuer's compounded annual book value per share growth percentage during a three-year performance period commencing January 1, 2014, vesting on the one year anniversary of the completion of the performance period, and 37,500 restricted shares subject to time-based vesting, vesting in equal annual installments during the four-year period commencing January 1, 2014.
- [F4]Includes 120,390 restricted shares granted under the issuer's 2009 Plan that vest on June 1, 2014.