Passmore Jeffrey R 4

Accession 0001181580-17-000027

CIK 0000819913other

View on SEC.gov Company Profile

Filed

Sep 18, 8:00 PM ET

Accepted

Sep 19, 2:37 PM ET

Size

15.4 KB

Accession

0001181580-17-000027

Insider Transaction Report

Form 4

Period: 2017-09-15

HALLMARK FINANCIAL SERVICES INCHALL

Passmore Jeffrey R

CHIEF ACCOUNTING OFFICER

Transactions

Award
RESTRICTED STOCK UNITS
2017-09-15+8,596→ 8,596 total
From: 2020-03-31Exp: 2020-03-31→ COMMON STOCK

Holdings

RESTRICTED STOCK UNITS
From: 2018-03-31Exp: 2018-03-31→ COMMON STOCK
5,937
RESTRICTED STOCK UNITS
From: 2019-03-31Exp: 2019-03-31→ COMMON STOCK
7,255
STOCK OPTIONS (RIGHT TO BUY)
Exercise: $6.61Exp: 2019-04-01→ COMMON STOCK (21,500 underlying)
21,500
COMMON STOCK
3,998
STOCK OPTIONS (RIGHT TO BUY)
Exercise: $11.46Exp: 2018-05-22→ COMMON STOCK (25,000 underlying)
25,000

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 for one-half of the restricted stock units is based on the compound average annual growth rate ("CAAGR") in book value per share from January 1, 2017 to December 31, 2019, and earns 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 is based on the consolidated net combined ratio ("CR%") for the period from from January 1, 2017 to December 31, 2019, and earns a percentage of a share of common stock per restricted stock unit, as follows: (a) CR% greater than 96% earns 0%; (b) 95% CR% earns 50%; (c) 94% CR% earns 60%; (d) 93% CR% earns 80%; (e) 92% CR% earns 100%; (f) 90% CR% earns 110%; (g) 89% CR% earns 120%; (h) 88% CR% earns 135%; and (i) less than 87% CR% 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 for one-half of the restricted stock units is based on the compound average annual growth rate ("CAAGR") in book value per share from January 1, 2016 to December 31, 2018, and earns 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%.
[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 for one-half of the restricted stock units is based on the consolidated net combined ratio ("CR%") for the period from from January 1, 2016 to December 31, 2018, and earns a percentage of a share of common stock per restricted stock unit, as follows: (a) CR% greater than 96% earns 0%; (b) 95% CR% earns 50%; (c) 94% CR% earns 60%; (d) 93% CR% earns 80%; (e) 92% CR% earns 100%; (f) 90% CR% earns 110%; (g) 89% CR% earns 120%; (h) 88% CR% earns 135%; and (i) less than 87% CR% earns 150%.
[F5]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%.
[F6]Represents employee stock options exercisable in seven equal annual installments commencing April 1, 2010.
[F7]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.

Documents

1 file

4
edgar.xmlPrimary
PRIMARY DOCUMENT

Issuer

HALLMARK FINANCIAL SERVICES INC

CIK 0000819913

→

Entity typeother

Related Parties

filerCIK 0001321683

Filing Metadata

Form type: 4
Filed: Sep 18, 8:00 PM ET
Accepted: Sep 19, 2:37 PM ET
Size: 15.4 KB

View on SEC.gov