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4//SEC Filing

HALLMARK FINANCIAL SERVICES INC 4

Accession 0001181580-15-000011

$HALLCIK 0000819913operating
View on SEC.govCompany Profile

Filed

Apr 8, 8:00 PM ET

Accepted

Apr 9, 10:18 AM ET

Size

21.0 KB

Accession

0001181580-15-000011

Insider Transaction Report

Form 4
Period: 2015-04-07
HALLMARK FINANCIAL SERVICES INCHALL
Passmore Jeffrey R
CHIEF ACCOUNTING OFFICER
Transactions
  • Sale

    COMMON STOCK

    2015-04-07$10.75/sh−5,351$57,523→ 2,982 total
  • Sale

    COMMON STOCK

    2015-04-08$10.67/sh−982$10,478→ 2,000 total
  • Exercise/Conversion

    STOCK OPTIONS (RIGHT TO BUY)

    2015-04-07−8,333→ 0 total
    Exercise: $7.14Exp: 2015-05-27→ COMMON STOCK (8,333 underlying)
  • Exercise/Conversion

    COMMON STOCK

    2015-04-07$7.14/sh+8,333$59,498→ 8,333 total
Holdings

  • STOCK OPTIONS (RIGHT TO BUY)

    Exercise: $12.52Exp: 2017-05-24→ COMMON STOCK (50,000 underlying)
    50,000

  • STOCK OPTIONS (RIGHT TO BUY)

    Exercise: $11.34Exp: 2016-05-25→ COMMON STOCK (8,333 underlying)
    8,333

  • RESTRICTED STOCK UNITS

    From: 2017-03-31Exp: 2017-03-31→ COMMON STOCK
    6,884

  • STOCK OPTIONS (RIGHT TO BUY)

    Exercise: $6.61Exp: 2019-04-01→ COMMON STOCK (35,000 underlying)
    35,000

  • STOCK OPTIONS (RIGHT TO BUY)

    Exercise: $11.46Exp: 2018-05-22→ COMMON STOCK (25,000 underlying)
    25,000

  • RESTRICTED STOCK UNITS

    From: 2016-03-31Exp: 2016-03-31→ COMMON STOCK
    7,389
Footnotes (9)
  • [F1]Represents the weighted average purchase price of transactions effected at prices ranging from $10.70 per share to $10.82 per share. Upon written request by the SEC, the Issuer or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
  • [F2]Represents the weighted average purchase price of transactions effected at prices ranging from $10.61 per share to $10.70 per share. Upon written request by the SEC, the Issuer or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
  • [F3]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, 2014 to December 31, 2016, 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%.
  • [F4]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%.
  • [F5]Represents employee stock options exercisable in seven equal annual installments commencing April 1, 2010.
  • [F6]Represents employee stock options exercisable as to 2,500, 5,000, 7,500 and 10,000 shares on May 22, 2009, 2010, 2011 and 2012, respectively.
  • [F7]Represents employee stock options exercisable as to 5,000, 10,000, 15,000 and 20,000 shares on May 24, 2008, 2009, 2010 and 2011, respectively.
  • [F8]Represents employee stock options exercisable as to 833, 1,667, 2,500 and 3,333 shares on May 25, 2007, 2008, 2009 and 2010, respectively.
  • [F9]Represents employee stock options exercisable as to 833, 1,667, 2,500 and 3,333 shares on May 27, 2006, 2007, 2008 and 2009, respectively.

Documents

1 file

Issuer

HALLMARK FINANCIAL SERVICES INC

CIK 0000819913

→
Entity typeoperating
IncorporatedNV

Related Parties

1
  • filerCIK 0000819913

Filing Metadata

Form type
4
Filed
Apr 8, 8:00 PM ET
Accepted
Apr 9, 10:18 AM ET
Size
21.0 KB
View on SEC.gov