Mullan Adam 4
4 · ALTERRA CAPITAL HOLDINGS Ltd · Filed Apr 24, 2013
Insider Transaction Report
Form 4
Mullan Adam
CEO, Max at Llyods
Transactions
- Award
Common Shares
2013-04-24+6,525→ 71,240 total
Footnotes (2)
- [F1]On March 1, 2012, the Issuer made a grant to the Reporting Person of 6,525 performance shares (the "March 2012 grant"). Pursuant to the award agreement, the March 2012 grant contained an enhanced issuance provision whereby the Reporting Person would recieve up to an additional 100% of the original grant if certain performance measures where attained. On December 18, 2012, the Issuer entered into a previously disclosed merger agreement with Markel Corporation ("Markel"). In addition, on that date, the Compensation Committee of the Issuer's Board of Directors determined that, upon consumation of the merger, the performance measures related to the March 2012 grant would be deemed met to the extent required to permit for the additional 100% issuance of the original grant.
- [F2]On April 22, 2013, the Issuer announced entry into a Waiver Agreement with Markel whereby although all the conditions required to consumate the merger had been achieved, the parties agreed to delay the closing of the merger until May 1, 2013. As a result of the substantive conditions of the merger consumation being met, the Issuer has determined it appropriate to issue the additional 6,525 shares to the Reporting Person.