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HALLMARK FINANCIAL SERVICES INC 4

Accession 0001181580-16-000039

$HALLCIK 0000819913operating
View on SEC.govCompany Profile

Filed

Aug 22, 8:00 PM ET

Accepted

Aug 23, 5:23 PM ET

Size

17.6 KB

Accession

0001181580-16-000039

Insider Transaction Report

Form 4
Period: 2016-08-23
HALLMARK FINANCIAL SERVICES INCHALL
Passmore Jeffrey R
CHIEF ACCOUNTING OFFICER
Transactions
  • Award

    RESTRICTED STOCK UNITS

    2016-08-23+7,255→ 7,255 total
    From: 2019-03-31Exp: 2019-03-31→ COMMON STOCK
Holdings

  • COMMON STOCK

    3,998

  • RESTRICTED STOCK UNITS

    From: 2018-03-31Exp: 2018-03-31→ COMMON STOCK
    5,937

  • RESTRICTED STOCK UNITS

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

  • STOCK OPTIONS (RIGHT TO BUY)

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

  • STOCK OPTIONS (RIGHT TO BUY)

    Exercise: $6.61Exp: 2019-04-01→ COMMON STOCK (13,500 underlying)
    21,500

  • STOCK OPTIONS (RIGHT TO BUY)

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

  • STOCK OPTIONS (RIGHT TO BUY)

    Exercise: $12.52Exp: 2017-05-24→ COMMON STOCK (50,000 underlying)
    50,000
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 for one-half of the restricted stock units are based on the compound average annual growth rate ("CAAGR") in book value per share from January 1, 2016 to December 31, 2018, and earn a percentage of a share of common stock per restricted stock unit, as follows: (i) CAAGR less than 7% earns 0%; (ii) 7% CAAGR earns 50%; (iii) 8% CAAGR earns 67%; (iv) 9% CAAGR earns 83%; (v) 10% CAAGR earns 100%; (vi) 11% CAAGR earns 117% shares; (vii) 12% CAAGR earns 133%; and (viii) 13% 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 for one-half of the restricted stock units are based on the net combined ratio ("NCR") for the three year period from January 1, 2016 to December 31, 2018, and earn a percentage of a share of common stock per restricted stock unit, as follows: (a) NCR greater than 96% earns 0%; (b) NCR of 95% earns 50%; (c) NCR of 94% earns 60%; (d) NCR of 93% earns 80%; (e) NCR of 92% earns 100%; (f) NCR of 90% earns 110%; (g) NCR of 89% earns 120%; (h) NCR of 88% earns 135%; and (i) NCR less than 87% 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, 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%.
  • [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 ("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%.
  • [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.

Documents

1 file

Issuer

HALLMARK FINANCIAL SERVICES INC

CIK 0000819913

→
Entity typeoperating
IncorporatedNV

Related Parties

1
  • filerCIK 0000819913

Filing Metadata

Form type
4
Filed
Aug 22, 8:00 PM ET
Accepted
Aug 23, 5:23 PM ET
Size
17.6 KB
View on SEC.gov