4//SEC Filing
WACEK MICHAEL G 4
Accession 0001234584-09-000010
CIK 0001137048other
Filed
May 20, 8:00 PM ET
Accepted
May 21, 8:46 AM ET
Size
8.9 KB
Accession
0001234584-09-000010
Insider Transaction Report
Form 4
Transactions
- Other
Prepaid Variable Forward Transaction
2009-05-20−46,053→ 0 totalFrom: 2009-05-20Exp: 2009-05-20→ Common Stock, par value $0.01 per share (46,053 underlying) - Other
Common Stock, par value $0.01 per share ("Shares")
2009-05-20−46,053→ 124,133 total
Footnotes (3)
- [F1]On May 20, 2009 (the "Settlement Date"), Mr. Wacek settled a prepaid variable forward transaction (the "Transaction") with an unrelated third party (the "Buyer") that was entered into on May 14, 2007 relating to 46,053 Shares. The Transaction specified a forward floor price of $42.0995 per Share and a forward cap price of $50.5194 per Share. The Transaction specified that on the Settlement Date, Mr. Wacek would deliver to the Buyer a number of Shares based on a formula (such that a maximum of 46,053 Shares would be delivered). The Transaction specified that Mr. Wacek would participate in the potential per Share price gain represented by the difference between the closing price per Share on May 15, 2009, and the average price per Share at which the Buyer executes one or more hedging transactions in connection with the Transaction, up to a maximum gain of 20%.
- [F2]In lieu of delivering Shares, Mr. Wacek was eligible to elect to settle the Transaction on the Settlement Date for cash. On the Settlement Date, Mr. Wacek transferred to the Buyer 46,053 Shares. Upon entering into the Transaction, Mr. Wacek received prepayment from the Buyer in the amount of $1,685,406.03 and pledged 46,053 Shares to secure his obligations under the Transaction.
- [F3]Includes shares acquired under the Company's employee stock purchase plan.
Documents
Issuer
ODYSSEY RE HOLDINGS CORP
CIK 0001137048
Entity typeother
Related Parties
1- filerCIK 0001234584
Filing Metadata
- Form type
- 4
- Filed
- May 20, 8:00 PM ET
- Accepted
- May 21, 8:46 AM ET
- Size
- 8.9 KB