4//SEC Filing
BROWN DAVID A 4
Accession 0001140361-12-016628
CIK 0001347815other
Filed
Mar 18, 8:00 PM ET
Accepted
Mar 19, 9:50 PM ET
Size
6.9 KB
Accession
0001140361-12-016628
Insider Transaction Report
Form 4
BROWN DAVID A
DirectorChief Executive Officer
Transactions
- Award
Common Shares
2012-03-15+224,396→ 943,270 total(indirect: By Leyton Limited)
Holdings
- 11,200
Common Shares
Footnotes (3)
- [F1]The Performance Share Units ("PSUs") vested on January 1, 2012; however, settlement of any shares took place following the calculation of the factor described in footnote (2). The factor used to determine the number of common shares awarded was determined following the filing of the Company's annual report on Form 10-K on March 13, 2012.
- [F2]Vesting of PSUs is contingent on the reporting person's continued employment with Flagstone Reinsurance Holdings SA (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 ranges between 0.5 and 1.5, depending on the FDROE achieved during the vesting period. Based on the FDROE achieved during the relevant period, the number of common shares awarded was determined by multiplying the number of PSUs by a factor of 0.5.
- [F3]These common shares are held by Leyton Limited, a company owned by a trust for which the reporting person serves as settler, and the reporting person disclaims beneficial ownership of these shares.
Documents
Issuer
Flagstone Reinsurance Holdings, S.A.
CIK 0001347815
Entity typeother
Related Parties
1- filerCIK 0001394399
Filing Metadata
- Form type
- 4
- Filed
- Mar 18, 8:00 PM ET
- Accepted
- Mar 19, 9:50 PM ET
- Size
- 6.9 KB