Flagstone Reinsurance Holdings, S.A. 4
4 · Flagstone Reinsurance Holdings, S.A. · Filed May 16, 2011
Insider Transaction Report
Form 4
THORN WRAY T
Director
Transactions
- Award
Restricted Share Units
2011-05-12+6,825→ 6,825 totalExercise: $0.00From: 2011-05-12→ Common Shares (6,825 underlying)
Holdings
- 34,426(indirect: By Marathon Special Opportunity Master Fund, Ltd.)
Restricted Share Units
Exercise: $0.00→ Common Shares (34,426 underlying)
Footnotes (4)
- [F1]Each Restricted Share Unit ("RSU") represents the right to receive, without payment to the Company, one newly issued, fully paid and non-assessable common share of the Company, subject to the terms and conditions of the RSU Plan and grant certificate evidencing each grant. In the discretion of the Compensation Committee, upon exercise, the RSU grant may alternatively be paid in cash or partly in cash and partly in common shares.
- [F2]The RSUs vest 100% on the date of the grant.
- [F3]The RSUs have no expiry date.
- [F4]The reporting person is an employee of Marathon Asset Management, LP (the "Investment Manager"), which serves as the investment manager of Marathon Special Opportunity Master Fund, Ltd. and Marathon Special Opportunity Liquidating Fund, Ltd. (together, the "Funds"). Securities of the Company that are held by the Funds are subject to the sole voting and investment authority of the Investment Manager, and the reporting person disclaims beneficial ownership of any securities of the Company held by the Funds except to the extent of his pecuniary interest, if any, therein.