Chubb Ltd 4
4 · Chubb Ltd · Filed Jan 19, 2016
Insider Transaction Report
Form 4
ZIMMERMAN JAMES M
Director
Transactions
- Award
Common Shares
2016-01-14+3,466→ 3,466 total - Award
Deferred Stock Units
2016-01-14+17,078→ 17,078 totalExercise: $0.00→ Common Shares (17,078 underlying)
Footnotes (5)
- [F1]Received in exchange for 5,760 shares of common stock of the Chubb Corporation ("Chubb") in accordance with the Agreement and Plan of Merger ("Merger Agreement") pursuant to which ACE Limited ("ACE") acquired Chubb and pursuant to the requirements of Rule 16b-3.
- [F2]Pursuant to the Merger Agreement, each share of Chubb common stock was converted into 0.6019 ACE common shares and $62.93 in cash.
- [F3]Received in exchange for 14,597 Deferred Stock Units of Chubb in accordance with the Merger Agreement and pursuant to the requirements of Rule 16b-3.
- [F4]Deferred Stock Units are fully vested, but will not be payable, unless further deferred by the participant, until the 90th day after the earliest to occur of the reporting person's (i) death, (ii) disability, or (iii) separation from service.
- [F5]Pursuant to the Merger Agreement, each such Chubb equity award was converted into a right to receive a number of ACE common shares equal to (a) 0.6019 ACE common shares plus (b) $62.93 in cash, divided by $110.798, which is the average closing price of ACE common shares for the five trading days prior to the closing date of the merger.