Frakes Larry A 4

4 · Global Indemnity plc · Filed Mar 25, 2011

Form 4

Period: 2007-05-17

DirectorPresident & CEO

Transactions

Award
Options to Purchase Class A Common Shares (right to buy)
2007-05-17+197,473→ 197,473 total
Exercise: $25.32Exp: 2017-05-17→ Class A Common Shares (197,473 underlying)
Award
Options to Purchase Class A Common Shares (right to buy)
2008-02-05+249,419→ 249,419 total
Exercise: $20.05Exp: 2018-02-05→ Class A Common Shares (249,419 underlying)
Disposition to Issuer
Options to Purchase class A Common Shares (right to buy)
2009-08-14−249,419→ 0 total
Exercise: $20.05Exp: 2018-02-05→ Class A Common Shares (249,419 underlying)
Award
Options to Purchase Class A Common Shares (right to buy)
2009-08-14+249,419→ 249,149 total
Exercise: $11.90Exp: 2019-09-14→ Class A Common Shares (249,419 underlying)
Disposition to Issuer
Options to Purchase Class A Common Shares (right to buy)
2008-02-05−197,473→ 0 total
Exercise: $25.32Exp: 2007-05-17→ Class A Common Shares (197,473 underlying)

Footnotes (5)

[F1]Options granted pursuant to Mr. Frakes employment agreement that vest in four installments: 25% on December 31, 2007, 25% on December 31, 2008, 25% on December 31, 2009, and 25% December 31, 2010
[F2]Options cancelled and new options reissued to modify the aggregate amount of options and the exercise price.
[F3]Options granted pursuant to Mr. Frakes employment agreement that vest in four installments: 25% on December 31, 2008, 25% on December 31, 2009, 25% on December 31, 2010, and 25% on December 31, 2011
[F4]Options cancelled and reissued to modify exercise price and vesting schedule.
[F5]Options granted pursuant to Mr. Frakes employment agreement that vest in four installments: 25% on September 14, 2009, 25% on December 31, 2010, 25% on December 31, 2011, and 25% on December 31, 2012. As a result of the July 2, 2010 reverse stock split, Mr. Frakes currently holds 124709 options to purchase Class A Ordinary shares with an exercise price of $23.80 per share.

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