4//SEC Filing
Fisher Joseph G 4
Accession 0001181431-11-019188
CIK 0001282543other
Filed
Mar 20, 8:00 PM ET
Accepted
Mar 21, 12:08 PM ET
Size
7.0 KB
Accession
0001181431-11-019188
Insider Transaction Report
Form 4
Fisher Joseph G
EVP, Sec. & General Counsel
Transactions
- Award
Common Stock, $0.01 par value (Restricted)
2011-03-18$2.15/sh+51,000$109,650→ 51,000 total
Holdings
- 88,000
Common Stock, $0.01 par value
Footnotes (4)
- [F1]The restricted stock granted to the Reporting Person must meet both performance and time-based vesting criteria before becoming vested awards. Subject to certain exceptions and conditions included in the restricted stock award agreement, one-third of the shares of restricted stock granted to the Reporting Person will vest if the Issuer's stock price reaches $5.00 per share by the 18-month anniversary of the Transaction Date, one-third of the shares of restricted stock granted to the Reporting Person will vest if the Issuer's stock price reaches $10.00 by the third anniversary of the Transaction Date and one-third of the shares of restricted stock granted to the Reporting Person will vest if the Issuer's stock price reaches $15.00 by the fourth anniversary of the Transaction Date. If the performance conditions referenced above have been met, then, on each of the five anniversaries of the Transaction Date, 20% of the shares of restricted stock granted to the Reporting Person will vest.
- [F2]Generally, vesting will not occur for any portion of the shares of restricted stock granted to the Reporting Person to the extent the stock price thresholds expressed in Footnote 1 have not been met.
- [F3]The Reporting Person has executed an irrevocable proxy in favor of a third-party with respect to the restricted stock grant reflected in this Report, such irrevocable proxy being subject to certain termination provisions set forth therein.
- [F4]Closing price for the Issuer's common stock on March 17, 2011, the trading day immediately preceding the date of the grant of the restricted stock reflected in this Report.
Documents
Issuer
AFFIRMATIVE INSURANCE HOLDINGS INC
CIK 0001282543
Entity typeother
Related Parties
1- filerCIK 0001437216
Filing Metadata
- Form type
- 4
- Filed
- Mar 20, 8:00 PM ET
- Accepted
- Mar 21, 12:08 PM ET
- Size
- 7.0 KB