SWAYNE GUY 4
4 · Flagstone Reinsurance Holdings Ltd · Filed Jan 5, 2009
Insider Transaction Report
Form 4
SWAYNE GUY
CUO - International
Transactions
- Award
Performance Share Units
2009-01-01+75,000→ 394,592 total(indirect: By Trust)Exercise: $0.00From: 2012-01-01Exp: 2012-04-01→ Common Shares (75,000 underlying)
Footnotes (5)
- [F1]Vesting of Performance Share Units ("PSUs") is contingent upon the reporting person's continued employment with Flagstone Reinsurance Holdings Limited (the "Company") and the Company meeting certain fully diluted return-on-equity ("FDROE") goals. Upon vesting, the PSU holder is entitled to receive a number of common shares of the Company (or the cash equivalent, at the election of the Company) equal to the product of the number of PSUs granted multiplied by a factor based on the Company's FDROE during the vesting period. The factor will range between 0.5 and 1.5, depending on the FDROE achieved during the vesting period.
- [F2]These PSUs would vest, subject to the contingency described in note 1 above and the other terms and conditions of the Company's PSU Plan, on the date shown.
- [F3]Assumes the Company would settle these PSUs within three months of the vesting date.
- [F4]Represents the mid-point of the vesting range described in note 1 above for these PSUs.
- [F5]These PSU grants are held through a trust for the benefit of others and Mr. Swayne therefore disclaims beneficial ownership of these PSUs.