4//SEC Filing
NABERS DRAYTON JR 4
Accession 0001194794-12-000057
CIK 0001127703other
Filed
May 15, 8:00 PM ET
Accepted
May 16, 7:54 PM ET
Size
8.2 KB
Accession
0001194794-12-000057
Insider Transaction Report
Form 4
NABERS DRAYTON JR
Director
Transactions
- Award
Common Stock
2012-05-16$88.06/sh+635$55,918→ 8,261 total
Holdings
- 80(indirect: By 401(k))
Common Stock
- 39
Restricted Stock Units
→ Common Stock (39 underlying)
Footnotes (2)
- [F1]As disclosed on Pages 50 and 51 of our 2012 Proxy Statement, non-management directors of ProAssurance receive a grant of ProAssurance stock as part of their compensation package each year, IF such a grant is recommended by the Compensation Committee, which is composed entirely independent directors (as disclosed on page 17 of our 2012 Proxy Statement). In 2011 the recommended and approved stock compensation grant was for shares having a value of $56,000. The number of whole shares is determined using the closing price of a share of stock on the New York Stock Exchange (NYSE) on the day of the Board of Directors meeting following the Annual Meeting of Shareholders. The NYSE closing price on May 16, 2012 was $88.06, resulting in a distribution to each non-management director of 635 shares.
- [F2]RSU's are equal in value to one share of Common Stock, are issued under the 2008 Equity Plan and acquired under terms of the ProAssurance Corporation 2011 Employee Stock Ownership Plan. The RSUs will vest upon the sooner of three years of continuous employment, termination of employment by reason of death or disability or for ''good reason," or a change of control of the Company. If a participant terminates employment more than twelve months but less than three years from the date of grant, the RSUs will partially vest based on the number of days that the participant was employed in the vesting period. Any RSUs that are unvested on termination of employment will be forfeited. In addition, if a participant withdraws shares purchased for his or her account, matching unvested RSUs will be forfeited. Upon vesting, we will pay the RSUs in shares of our Common Stock from those shares reserved for issuance under the 2008 Equity Plan. Value to be established upon vesting.
Documents
Issuer
PROASSURANCE CORP
CIK 0001127703
Entity typeother
Related Parties
1- filerCIK 0001181820
Filing Metadata
- Form type
- 4
- Filed
- May 15, 8:00 PM ET
- Accepted
- May 16, 7:54 PM ET
- Size
- 8.2 KB