Cleff David Martin 4
4 · State National Companies, Inc. · Filed Nov 17, 2017
Insider Transaction Report
Form 4
Cleff David Martin
EVP and Secretary
Transactions
- Disposition to Issuer
Common Stock
2017-11-17−10,989→ 0 total - Disposition to Issuer
Common Stock
2017-11-17$21.00/sh−22,076$463,596→ 10,989 total - Disposition to Issuer
Option
2017-11-17$11.00/sh−284,900$3,133,900→ 0 totalExercise: $10.00Exp: 2024-06-25→ Common Stock (284,900 underlying)
Footnotes (3)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger ("merger agreement"), dated as of July 26, 2017, by and among Issuer, Markel Corporation and Markelverick Corporation for a cash payment of the per share price noted.
- [F2]In connection with the closing under the merger agreement, each option was cancelled in the merger in exchange for a cash payment of $3,133,900, representing the difference between $21.00 and the exercise price.
- [F3]The stock options vested in three equal annual installments beginning 06/25/2015.