Fidelity & Guaranty Life 4
4 · Fidelity & Guaranty Life · Filed Aug 22, 2014
Insider Transaction Report
Form 4
LAUNER LELAND C JR
DirectorPresident and CEO
Transactions
- Exercise/Conversion
Employee Stock Option (right to buy)
2014-08-20−44,334→ 0 totalExercise: $38.14Exp: 2018-11-02→ Common Stock
Holdings
- 2,359
Employee Restricted Stock Unit
→ Common Stock - 109,470
Employee Stock Option (right to buy)
Exercise: $17.00Exp: 2020-12-12→ Common Stock (109,470 underlying) - 24,339
Common Stock
- 90,909
Employee Stock Option (right to buy)
Exercise: $49.45Exp: 2019-12-31→ Common Stock
Footnotes (5)
- [F1]Includes restricted stock.
- [F2]The option entitles the reporting person to receive, upon exercise, a cash payment equal to the excess of the fair market value of a share of Class A Common Stock of Fidelity & Guaranty Life Holdings, Inc., a wholly owned subsidiary of the Issuer (the "F&G Subsidiary"), over the exercise price of the option. It is expected that the fair market value of a share of Class A Common Stock of the F&G Subsidiary will be derived from the value of the Common Stock of the Issuer. The option became exercisable as to 14,778 shares on November 2, 2012, 14,778 shares on November 2, 2013 and 14,778 on April 30, 2014. A a result of the exercise, the reporting person became entitled to receive for each exercised option a cash payment of $61.79 per option.
- [F3]Each restricted stock unit is the economic equivalent of one share of Class B Common Stock of the F&G Subsidiary. Each restricted stock unit will be settled upon vesting in cash in an amount equal to the fair market value of a share of Class B Common Stock of the F&G Subsidiary. It is expected that the fair market value of a share of Class B Common Stock of the F&G Subsidiary will be derived from the value of the Common Stock of the Issuer. The remaining 2,359 restricted stock units will vest on December 31, 2015.
- [F4]The option entitles the reporting person to receive, upon exercise, a cash payment equal to the excess of the fair market value of a share of Class B Common Stock of the F&G Subsidiary over the exercise price of the option. It is expected that the fair market value of a share of Class B Common Stock of the F&G Subsidiary will be derived from the value of the Common Stock of the Issuer. The option became exercisable as to 30,303 shares on December 31, 2013 and 30,303 shares on April 30, 2014. The remaining 30,303 shares will become exercisable on December 31, 2015.
- [F5]This option vests in equal annual installments on December 12, 2014, 2015 and 2016, subject to continued employment and service through such date.