Fidelity & Guaranty Life 4
4 · Fidelity & Guaranty Life · Filed Feb 17, 2015
Insider Transaction Report
Form 4
LAUNER LELAND C JR
DirectorPresident and CEO
Transactions
- Exercise/Conversion
Stock Option (right to buy)
2015-02-12−10,000→ 80,909 totalExercise: $49.45Exp: 2019-12-31→ Common Stock
Holdings
- 109,470
Stock Option (right to buy)
Exercise: $17.00Exp: 2020-12-12→ Common Stock (109,470 underlying) - 2,359
Restricted Stock Unit
→ Common Stock - 40,974
Common Stock
- 70,833
Stock Option (right to buy)
Exercise: $24.87Exp: 2021-12-01→ Common Stock (70,833 underlying)
Footnotes (5)
- [F1]Includes restricted stock.
- [F2]The option entitles the reporting person to receive, upon vesting, a cash payment equal to the excess of the fair market value of a share of Class B Common Stock of Fidelity & Guaranty Life Holdings, Inc., a wholly-owned subsidiary of the Issuer (the "F&G Subsidiary"), over the exercise price of the option. It is expected that the fair market value of a share of Class B Common Stock of the F&G Subsidiary will be derived from the value of the Common Stock of the Issuer. The option became exercisable as to 30,303 shares on December 31, 2013, 30,303 shares on April 30, 2014, and will become exercisable as to 30,303 shares on December 31, 2015. As a result of the exercise, the reporting person became entitled to receive for each exercised option a cash payment of $50.07 per option.
- [F3]Each restricted stock unit is the economic equivalent of one share of Class B Common Stock of the F&G Subsidiary. Each restricted stock unit will be settled upon vesting in cash in an amount equal to the fair market value of one share of Class B Common Stock of the F&G Subsidiary. It is expected that the fair market value of a share of Class B Common Stock of the F&G Subsidiary will be derived from the value of the Common Stock of the Issuer. The remaining restricted stock units will vest on December 31, 2015.
- [F4]The option vests in three equal annual installments on December 1, 2015, 2016 and 2017, subject to continued employment and service through such date.
- [F5]The option vests in three equal annual installments on December 12, 2014, 2015 and 2016, subject to continued employment and service through such date.