Anand Naveen 4

Accession 0001181580-19-000010

CIK 0000819913other

View on SEC.gov Company Profile

Filed

Sep 25, 8:00 PM ET

Accepted

Sep 26, 3:40 PM ET

Size

13.3 KB

Accession

0001181580-19-000010

Insider Transaction Report

Form 4

Period: 2019-09-26

HALLMARK FINANCIAL SERVICES INCHALL

Anand Naveen

President & CEO

Transactions

Award
RESTRICTED STOCK UNITS
2019-09-26+17,403→ 17,403 total
From: 2022-03-31Exp: 2022-03-31→ COMMON STOCK

Holdings

RESTRICTED STOCK UNITS
From: 2021-03-31Exp: 2021-03-31→ COMMON STOCK
27,599
RESTRICTED STOCK UNITS
From: 2020-03-31Exp: 2020-03-31→ COMMON STOCK
29,412
COMMON STOCK
77,400

Footnotes (6)

[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, 2019 to December 31, 2021, 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 75%; (iv) 9% CAAGR earns 100%; (v) 10% CAAGR earns 117%; (vi) 11% CAAGR earns 133% shares; and (vii) 12% 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, 2019 to December 31, 2021, and earns a percentage of a share of common stock per restricted stock unit, as follows: (a) CR% greater than 98% earns 0%; (b) 97% CR% earns 50%; (c) 96% CR% earns 75%; (d) 95% CR% earns 100%; (e) 94% CR% earns 110%; (f) 93% CR% earns 120%; (g) 92% CR% earns 130%; (h) 91% CR% earns 140%; and (i) less than 90% 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 are based on the compound average annual growth rate ("CAAGR") in book value per share from January 1, 2018 to December 31, 2020, 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 75%; (iv) 9% CAAGR earns 100%; (v) 10% CAAGR earns 117%; (vi) 11% CAAGR earns 133% shares; and (vii) 12% 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 are based on the net combined ratio ("NCR") for the three year period from January 1, 2018 to December 31, 2020, and earn a percentage of a share of common stock per restricted stock unit, as follows: (a) NCR greater than 98% earns 0%; (b) NCR of 97% earns 50%; (c) NCR of 96% earns 75%; (d) NCR of 95% earns 100%; (e) NCR of 94% earns 110%; (f) NCR of 93% earns 120%; (g) NCR of 92% earns 130%; (h) NCR of 91% earns 140%; and (i) NCR less than 90% 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 are based on the compound average annual growth rate ("CAAGR") in book value per share from January 1, 2017 to December 31, 2019, 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%.
[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 are based on the net combined ratio ("NCR") for the three year period from January 1, 2017 to December 31, 2019, 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%.

Documents

1 file

4
edgar.xmlPrimary
PRIMARY DOCUMENT

Issuer

HALLMARK FINANCIAL SERVICES INC

CIK 0000819913

→

Entity typeother

Related Parties

filerCIK 0001617121

Filing Metadata

Form type: 4
Filed: Sep 25, 8:00 PM ET
Accepted: Sep 26, 3:40 PM ET
Size: 13.3 KB

View on SEC.gov