4//SEC Filing
Oberting Kernan V 4
Accession 0001140361-21-007019
CIK 0001744894other
Filed
Mar 1, 7:00 PM ET
Accepted
Mar 2, 8:27 PM ET
Size
9.4 KB
Accession
0001140361-21-007019
Insider Transaction Report
Form 4
Oberting Kernan V
President & CFO
Transactions
- Disposition to Issuer
Common Shares
2021-02-26−132,322→ 15,686 total - Disposition to Issuer
Common Shares
2021-02-26−15,686→ 0 total - Disposition to Issuer
Employee Stock Option (right to buy)
2021-02-26−1,374,945→ 0 totalExercise: $12.75From: 2022-02-26Exp: 2024-02-27→ Common Stock (1,374,945 underlying)
Footnotes (3)
- [F1]Represents shares of common stock of the issuer ("Sirius Shares") disposed of in connection with the merger of the issuer with Third Point Reinsurance Ltd. ("TPRE") (the "Merger"), which closed on February 26, 2021 (the "Effective Time"), and exchanged for a combination of common shares, par value $0.10 per share, of TPRE (the "TPRE Shares") and contingent value right ("CVR") consideration comprising (1) 0.743 of a TPRE Share and (2) one contractual CVR, which represents the right to receive a contingent cash payment, which, taken together with the fraction of the TPRE Share received, guarantee that on the second anniversary of the Effective Time, the electing shareholder will have received equity and cash equal to at least $13.73 per Sirius Share.
- [F2]Represents restricted stock units ("RSUs") scheduled to vest in full on the third anniversary of grant date (or on February 27, 2022) that were disposed of in connection with the Merger and exchanged for 20,351 RSUs of TPRE common shares that immediately vested following the closing of the Merger and will be settled, net of shares withheld for taxes, for cash at the public trading price on the day of the cash-out.
- [F3]Represents employee stock options, which was expected to vest in full on February 27, 2022. These RSUs were disposed of in connection with the merger and exchanged for stock options to buy 1,783,853 TPRE common shares at an exercise price of $9.83 per share. These stock options became fully vested following the closing of the Merger but otherwise were subject to the same terms and conditions.
Documents
Issuer
Sirius International Insurance Group, Ltd.
CIK 0001744894
Entity typeother
Related Parties
1- filerCIK 0001305456
Filing Metadata
- Form type
- 4
- Filed
- Mar 1, 7:00 PM ET
- Accepted
- Mar 2, 8:27 PM ET
- Size
- 9.4 KB