4//SEC Filing
HALLMARK FINANCIAL SERVICES INC 4
Accession 0001181580-16-000024
$HALLCIK 0000819913operating
Filed
Mar 17, 8:00 PM ET
Accepted
Mar 18, 4:29 PM ET
Size
16.9 KB
Accession
0001181580-16-000024
Insider Transaction Report
Form 4
Passmore Jeffrey R
CHIEF ACCOUNTING OFFICER
Transactions
- Award
RESTRICTED STOCK UNITS
2015-05-29+5,937→ 5,937 totalFrom: 2018-03-31Exp: 2018-03-31→ COMMON STOCK
Holdings
- 3,998
COMMON STOCK
- 25,000
STOCK OPTIONS (RIGHT TO BUY)
Exercise: $11.46Exp: 2018-05-22→ COMMON STOCK (25,000 underlying) - 21,500
STOCK OPTIONS (RIGHT TO BUY)
Exercise: $6.61Exp: 2019-04-01→ COMMON STOCK (13,500 underlying) - 8,333
STOCK OPTIONS (RIGHT TO BUY)
Exercise: $11.34Exp: 2016-05-25→ COMMON STOCK (8,333 underlying) - 6,884
RESTRICTED STOCK UNITS
From: 2017-03-31Exp: 2017-03-31→ COMMON STOCK - 7,389
RESTRICTED STOCK UNITS
From: 2016-03-31Exp: 2016-03-31→ COMMON STOCK - 50,000
STOCK OPTIONS (RIGHT TO BUY)
Exercise: $12.52Exp: 2017-05-24→ COMMON STOCK (50,000 underlying)
Footnotes (7)
- [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%.
- [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 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%.
- [F3]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%.
- [F4]Represents employee stock options exercisable in seven equal annual installments commencing April 1, 2010.
- [F5]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.
- [F6]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.
- [F7]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.
Documents
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, 4:29 PM ET
- Size
- 16.9 KB