4//SEC Filing
HALLMARK FINANCIAL SERVICES INC 4
Accession 0001181580-16-000040
$HALLCIK 0000819913operating
Filed
Aug 23, 8:00 PM ET
Accepted
Aug 24, 11:02 AM ET
Size
9.6 KB
Accession
0001181580-16-000040
Insider Transaction Report
Form 4
Anand Naveen
President & CEO
Transactions
- Award
RESTRICTED STOCK UNITS
2016-08-23+26,293→ 26,293 totalFrom: 2019-03-31Exp: 2019-03-31→ COMMON STOCK
Holdings
- 60,300
COMMON STOCK
- 78,007
RESTRICTED STOCK UNITS
From: 2018-03-31Exp: 2018-03-31→ COMMON STOCK
Footnotes (3)
- [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%.
Documents
Issuer
HALLMARK FINANCIAL SERVICES INC
CIK 0000819913
Entity typeoperating
IncorporatedNV
Related Parties
1- filerCIK 0000819913
Filing Metadata
- Form type
- 4
- Filed
- Aug 23, 8:00 PM ET
- Accepted
- Aug 24, 11:02 AM ET
- Size
- 9.6 KB