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4//SEC Filing

HALLMARK FINANCIAL SERVICES INC 4

Accession 0001181580-16-000023

$HALLCIK 0000819913operating
View on SEC.govCompany Profile

Filed

Mar 17, 8:00 PM ET

Accepted

Mar 18, 4:28 PM ET

Size

17.6 KB

Accession

0001181580-16-000023

Insider Transaction Report

Form 4
Period: 2015-05-29
HALLMARK FINANCIAL SERVICES INCHALL
KASITZ KEVIN
Executive Vice President; COO
Transactions
  • Award

    RESTRICTED STOCK UNITS

    2015-05-29+9,186→ 9,186 total
    From: 2018-03-31Exp: 2018-03-31→ COMMON STOCK
Holdings

  • RESTRICTED STOCK UNITS

    From: 2016-03-31Exp: 2016-03-31→ COMMON STOCK
    15,040

  • EMPLOYEE STOCK OPTION (RIGHT TO BUY)

    Exercise: $12.52Exp: 2017-05-24→ COMMON STOCK (75,000 underlying)
    75,000

  • EMPLOYEE STOCK OPTION (RIGHT TO BUY)

    Exercise: $11.46Exp: 2018-05-22→ COMMON STOCK (37,500 underlying)
    37,500

  • EMPLOYEE STOCK OPTION (RIGHT TO BUY)

    Exercise: $11.34Exp: 2016-05-25→ COMMON STOCK (5,000 underlying)
    11,667

  • COMMON STOCK

    43,093

  • RESTRICTED STOCK UNITS

    From: 2017-03-31Exp: 2017-03-31→ COMMON STOCK
    14,234

  • EMPLOYEE STOCK OPTION (RIGHT TO BUY)

    Exercise: $6.61Exp: 2019-04-01→ COMMON STOCK (55,000 underlying)
    55,000
Footnotes (8)
  • [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 with respect to 25% of the restricted stock units 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%.
  • [F2]Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria with respect to 75% of the restricted stock units are based on the three year average annual combined ratio ("AACR") for 2015, 2016 and 2017, as follows: (i) AACR of 98% or higher 0%; (ii) AACR of 97% earns 50%; (iii) AACR of 96% earns 60%; (iv) AACR of 95% earns 70%; (v) AACR of 94% earns 80%; (vi) AACR of 93% earns 90%; (vii) AACR of 92% earns 100%; (viii) AACR of 91% earns 110%; (ix) AACR of 89% earns 120%; (x) AACR of 88% earns 130%; (xi) AACR of 87% earns 140%; and (xii) AACR of 86% or less earns 150%.
  • [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 ("CAAGR") 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) CAAGR less than 8% earns 0%; (ii) 8% CAAGR earns 50%; (iii) 9% CAAGR earns 64%; (iv) 10% CAAGR earns 79%; (v) 11% CAAGR earns 93%; (vi) 12% CAAGR earns 107% shares; (vii) 13% CAAGR earns 122%; (viii) 14% CAAGR earns 136%; and (ix) 15% or greater CAAGR earns 150%.
  • [F4]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, 2013 to December 31, 2015, and earn a percentage of a share of common stock per restricted stock unit, as follows: (i) CAAGR less than 8% earns 0%; (ii) 8% CAAGR earns 50%; (iii) 9% CAAGR earns 64%; (iv) 10% CAAGR earns 79%; (v) 11% CAAGR earns 93%; (vi) 12% CAAGR earns 107% shares; (vii) 13% CAAGR earns 122%; (viii) 14% CAAGR earns 136%; and (ix) 15% or greater CAAGR earns 150%.
  • [F5]Represents grant of employee stock options which become exercisable in seven equal annual installments commencing April 1, 2010.
  • [F6]Represents employee stock options exercisable as to 3,750, 7,500, 11,250 and 15,000 shares on May 22, 2009, 2010, 2011 and 2012, respectively.
  • [F7]Represents employee stock options exercisable as to 7,500, 15,000, 22,500 and 30,000 shares on May 24, 2008, 2009, 2010 and 2011, respectively.
  • [F8]Represents employee stock options exercisable as to 1,667, 3,333, 5,000 and 6,667 shares on May 25, 2007, 2008, 2009 and 2010, 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
Mar 17, 8:00 PM ET
Accepted
Mar 18, 4:28 PM ET
Size
17.6 KB
View on SEC.gov