4//SEC Filing
Passmore Jeffrey R 4
Accession 0001181580-18-000006
CIK 0000819913other
Filed
May 16, 8:00 PM ET
Accepted
May 17, 9:54 AM ET
Size
16.1 KB
Accession
0001181580-18-000006
Insider Transaction Report
Form 4
Passmore Jeffrey R
CHIEF ACCOUNTING OFFICER
Transactions
- Exercise/Conversion
STOCK OPTIONS (RIGHT TO BUY)
2018-05-16−21,500→ 0 totalExercise: $6.61Exp: 2019-04-01→ COMMON STOCK (21,500 underlying) - Exercise/Conversion
COMMON STOCK
2018-05-16$6.61/sh+21,500$142,115→ 25,498 total - Sale
COMMON STOCK
2018-05-16$9.94/sh−18,498$183,870→ 7,000 total
Holdings
- 7,255
RESTRICTED STOCK UNITS
From: 2019-03-31Exp: 2019-03-31→ COMMON STOCK - 25,000
STOCK OPTIONS (RIGHT TO BUY)
Exercise: $11.46Exp: 2018-05-22→ COMMON STOCK (25,000 underlying) - 8,596
RESTRICTED STOCK UNITS
From: 2020-03-31Exp: 2020-03-31→ COMMON STOCK
Footnotes (7)
- [F1]Represents the weighted average price of transactions effected at prices ranging from $9.90 per share to $9.96 per share. Upon written request by the SEC, the Issuer or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F2]Represents employee stock options exercisable in seven equal annual installments commencing April 1, 2010.
- [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, 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%.
- [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, 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%.
- [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 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%.
- [F6]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%.
- [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
Issuer
HALLMARK FINANCIAL SERVICES INC
CIK 0000819913
Entity typeother
Related Parties
1- filerCIK 0001321683
Filing Metadata
- Form type
- 4
- Filed
- May 16, 8:00 PM ET
- Accepted
- May 17, 9:54 AM ET
- Size
- 16.1 KB