HALLMARK FINANCIAL SERVICES INC 4
4 · HALLMARK FINANCIAL SERVICES INC · Filed Sep 11, 2014
Insider Transaction Report
Form 4
Anand Naveen
President & CEO
Transactions
- Award
RESTRICTED STOCK UNITS
2014-09-08+51,760→ 51,760 totalFrom: 2018-03-31Exp: 2018-03-31→ COMMON STOCK
Footnotes (1)
- [F1]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, 2015 to December 31, 2017, and earn a percentage of a share of common stock per restricted stock unit, as follows: (i) CAGR less than 9% earns 0%; (ii) 9% CAGR earns 50%; (iii) 10% CAGR earns 67%; (iv) 11% CAGR earns 83%; (v) 12% CAGR earns 100% shares; (vi) 13% CAGR earns 117%; (vii) 14% CAGR earns 133%; and (viii) 15% or greater CAGR earns 150%.