PRUITT PETER T 4
4 · PLATINUM UNDERWRITERS HOLDINGS LTD · Filed Jan 5, 2009
Insider Transaction Report
Form 4
PRUITT PETER T
Director
Transactions
- Exercise/Conversion
Common Shares
2009-01-02+1,360→ 13,190 total - Award
Share units
2009-01-02+425→ 10,432 total→ Common Shares (425 underlying) - Exercise/Conversion
Share units
2009-01-02−1,360→ 9,072 total→ Common Shares (1,360 underlying)
Footnotes (3)
- [F1]1-for-1
- [F2]The share units were credited under the Share Unit Plan for Nonemployee Directors (the "Plan") and will be paid in cash, Common Shares of Platinum Underwriters Holdings, Ltd. (the "Company") or a combination thereof at the discretion of the Board of Directors of the Company based on the Fair Market Value (as defined in the Plan) of the Common Shares on the first business day following the earlier of (i) the date that is five years following the end of the calendar year that includes the calendar quarter in respect of which the share units are awarded (which is the quarter preceding the transaction date), or (ii) the date that the reporting person ceases to be a member of the Board of Directors of the Company.
- [F3]The share units were credited under the Plan and were paid in Common Shares of the Company on the first business day following the end of the calendar year that included the calendar quarters in respect of which the share units were awarded.