PARTNERRE LTD 4
4 · PARTNERRE LTD · Filed Mar 22, 2016
Insider Transaction Report
Form 4
Outtrim David
Chief Accounting Officer
Transactions
- Award
Common Shares
2016-03-18+565→ 11,619 total - Disposition to Issuer
Common Shares
2016-03-18$137.50/sh−11,619$1,597,613→ 0 total - Award
Common Shares
2016-03-18+470→ 11,054 total - Disposition to Issuer
Stock Appreciation Rights
2016-03-18$74.06/sh−6,600$488,796→ 0 totalExercise: $63.44From: 2013-03-01Exp: 2022-02-28→ Common Shares (6,600 underlying)
Footnotes (4)
- [F1]Reflects performance adjustment to Performance Share Units granted on February 17, 2015. This award was previously reported on grant at target (940 shares) and settled at 150% (1,410 shares) on March 18, 2016.
- [F2]Reflects performance adjustment to Performance Share Units granted on February 28, 2014. This award was previously reported on grant at target (1,129 shares) and settled at 150% (1,694 shares) on March 18, 2016.
- [F3]Disposed of pursuant to the merger agreement between the issuer and EXOR in exchange for a cash payment of $1,597,613 on the effective date of the merger and pursuant to the requirement of Rule 16b-3 of the Exchange Act.
- [F4]These Share-Settled Share Appreciation Rights (SARs), which provided for a three year ratable vest, were cancelled as a result of the merger with EXOR in exchange for a cash payment of $488,796, representing the difference between the exercise price of the SAR and the merger consideration of $137.50 per share and pursuant to the requirement of Rule 16b-3 of the Exchange Act.