HALLMARK FINANCIAL SERVICES INC 4
4 · HALLMARK FINANCIAL SERVICES INC · Filed Mar 18, 2016
Insider Transaction Report
Form 4
Anand Naveen
President & CEO
Transactions
- Award
RESTRICTED STOCK UNITS
2015-05-29+26,247→ 78,007 totalFrom: 2018-03-31Exp: 2018-03-31→ COMMON STOCK
Holdings
- 50,000
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 ("CAAGR") 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) CAAGR less than 9% earns 0%; (ii) 9% CAAGR earns 50%; (iii) 10% CAAGR earns 67%; (iv) 11% CAAGR earns 83%; (v) 12% CAAGR earns 100%; (vi) 13% CAAGR earns 117% shares; (vii) 14% CAAGR earns 133%; and (viii) 15% or greater CAAGR earns 150%.