4//SEC Filing
MCCLURE MICHAEL J 4
Accession 0001181431-11-045183
CIK 0001282543other
Filed
Aug 11, 8:00 PM ET
Accepted
Aug 12, 12:53 PM ET
Size
8.9 KB
Accession
0001181431-11-045183
Insider Transaction Report
Form 4
MCCLURE MICHAEL J
EVP & Chief Financial Officer
Transactions
- Disposition to Issuer
Common Stock, $0.01 par value (Restricted)
2011-08-10$0.01/sh−57,750$578→ 0 total - Award
Non-Qualified Stock Option (Right to Purchase)
2011-08-10+90,000→ 90,000 totalExercise: $1.76From: 2012-08-10Exp: 2021-08-10→ Common Stock, $0.01 par value (90,000 underlying)
Holdings
- 2,000
Common Stock, $0.01 par value
Footnotes (4)
- [F1]57,750 shares of restricted stock were granted to the Reporting Person on March 18, 2011. These shares were to have met both performance and time-based vesting criteria before becoming vested awards. None of the performance or time-based vesting criteria had been met for any shares granted under the award before the instant disposition by the Reporting Person to the Issuer pursuant to Rule 16b-3(e).
- [F2]The Reporting Person executed an irrevocable proxy in favor of a third-party with respect to the March 18, 2011 restricted stock grant. All shares awarded to the Reporting Person in that grant are being disposed to the Issuer as reflected in this Report. Consequently, such irrevocable proxy is effectively terminated upon said disposition pursuant to the terms of the termination provisions set forth therein.
- [F3]Reflects the nominal, per share purchase price paid to the Reporting Person by the Issuer for all of the shares of restricted stock that were issued to the Reporting Person on March 18, 2011. Such per share purchase price is equivalent to the par value of the Issuer's Common Stock, and is a reflection of the fact that none of the shares of the Reporting Person's restricted stock had vested as of the date of disposition to the Issuer as reflected in this Report.
- [F4]One-third of the total number of non-qualified stock options vest and become exercisable over a three year period from the date of issue (30,000 options exercisable on each of 8/10/2012, 8/10/2013, and 8/10/2014).
Documents
Issuer
AFFIRMATIVE INSURANCE HOLDINGS INC
CIK 0001282543
Entity typeother
Related Parties
1- filerCIK 0001207308
Filing Metadata
- Form type
- 4
- Filed
- Aug 11, 8:00 PM ET
- Accepted
- Aug 12, 12:53 PM ET
- Size
- 8.9 KB