4//SEC Filing
HALLMARK FINANCIAL SERVICES INC 4
Accession 0001181580-13-000026
$HALLCIK 0000819913operating
Filed
Dec 25, 7:00 PM ET
Accepted
Dec 26, 7:46 PM ET
Size
16.7 KB
Accession
0001181580-13-000026
Insider Transaction Report
Form 4
MORRISON MARK J
President; CEO
Transactions
- Purchase
COMMON STOCK
2013-12-23$8.80/sh+2,500$22,000→ 82,500 total
Holdings
- 100,000
EMPLOYEE STOCK OPTION (RIGHT TO BUY)
Exercise: $12.52Exp: 2017-05-24→ COMMON STOCK (100,000 underlying) - 34,052
RESTRICTED STOCK UNITS
From: 2016-03-31Exp: 2016-03-31→ COMMON STOCK - 75,000
EMPLOYEE STOCK OPTION (RIGHT TO BUY)
Exercise: $6.61Exp: 2019-04-01→ COMMON STOCK (75,000 underlying) - 20,833
EMPLOYEE STOCK OPTION (RIGHT TO BUY)
Exercise: $11.34Exp: 2016-05-25→ COMMON STOCK (20,833 underlying) - 37,879
RESTRICTED STOCK UNITS
From: 2015-03-31Exp: 2015-03-31→ COMMON STOCK - 50,000
EMPLOYEE STOCK OPTION (RIGHT TO BUY)
Exercise: $11.46Exp: 2018-05-22→ COMMON STOCK (50,000 underlying) - 16,667
EMPLOYEE STOCK OPTION (RIGHT TO BUY)
Exercise: $7.14Exp: 2015-05-27→ COMMON STOCK (16,667 underlying)
Footnotes (7)
- [F1]Represents restricted stock units conditionally granted April 10, 2013 subject to shareholder approval, which was obtained May 30, 2013. Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria are based on the compound average annual growth rate ("CAGR") in book value per share from January 1, 2013 to December 31, 2015, and earn a percentage of a share of common stock per restricted stock unit, as follows: (i) CAGR less than 8% earns 0%; (ii) 8% CAGR earns 50%; (iii) 9% CAGR earns 64%; (iv) 10% CAGR earns 79%; (v) 11% CAGR earns 93%; (vi) 12% CAGR earns 107% shares; (vii) 13% CAGR earns 122%; (viii) 14% CAGR earns 136%; and (ix) 15% or greater CAGR earns 150%.
- [F2]Represents restricted stock units conditionally granted July 27, 2012 subject to shareholder approval, which was obtained May 30, 2013. Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria are based on the compound average annual growth rate ("CAGR") in book value per share from January 1, 2012 to December 31, 2014, and earn a percentage of a share of common stock per restricted stock unit, as follows: (i) CAGR less than 8% earns 0%; (ii) 8% CAGR earns 50%; (iii) 9% CAGR earns 64%; (iv) 10% CAGR earns 79%; (v) 11% CAGR earns 93%; (vi) 12% CAGR earns 107% shares; (vii) 13% CAGR earns 122%; (viii) 14% CAGR earns 136%; and (ix) 15% or greater CAGR earns 150%.
- [F3]Represents grant of employee stock options which become exercisable in seven equal annual installments commencing April 1, 2010.
- [F4]Represents grant of employee stock options exercisable as to 5,000, 10,000, 15,000 and 20,000 shares on May 22, 2009, 2010, 2011 and 2012, respectively.
- [F5]Represents grant of employee stock options exercisable as to 10,000, 20,000, 30,000 and 40,000 shares on May 24, 2008, 2009, 2010 and 2011, respectively.
- [F6]Represents grant of employee stock options exercisable as to 2,083, 4,167, 6,250 and 8,333 shares on May 25, 2007, 2008, 2009 and 2010, respectively.
- [F7]Represents grant of employee stock options exercisable as to 1,667, 3,333, 5,000 and 6,667 shares on May 27, 2006, 2007, 2008 and 2009, respectively.
Documents
Issuer
HALLMARK FINANCIAL SERVICES INC
CIK 0000819913
Entity typeoperating
IncorporatedNV
Related Parties
1- filerCIK 0000819913
Filing Metadata
- Form type
- 4
- Filed
- Dec 25, 7:00 PM ET
- Accepted
- Dec 26, 7:46 PM ET
- Size
- 16.7 KB