4//SEC Filing
SWAYNE GUY 4
Accession 0001347815-11-000012
CIK 0001347815other
Filed
Mar 10, 7:00 PM ET
Accepted
Mar 11, 11:35 AM ET
Size
8.8 KB
Accession
0001347815-11-000012
Insider Transaction Report
Form 4
SWAYNE GUY
CUO - International
Transactions
- Exercise/Conversion
Common Shares
2011-03-10+239,694→ 249,694 total(indirect: By Trust) - Exercise/Conversion
Performance Share Units
2011-03-10−159,796→ 394,296 total(indirect: By Trust)Exercise: $0.00From: 2011-01-01Exp: 2011-04-01→ Common Shares (239,694 underlying)
Footnotes (4)
- [F1]Vesting of Performance Share Units ("PSUs") is contingent on the reporting person's continued employment with Flagstone Reinsurance Holdings SA (the "Company") and the Company meeting certain fully diluted return-on-equity ("FDROE") goals. Upon vesting, the PSU holder is entitled to receive a number of common shares of the Company (or the cash equivalent, at the election of the Company) equal to the product of the number of PSUs granted multiplied by a factor based on the Company's FDROE during the vesting period. The factor ranges between 0.5 and 1.5, depending on the FDROE achieved during the vesting period.
- [F2]Held in trust for the benefit of others, and the Reporting Person disclaims beneficial ownership of securities held in trust.
- [F3]The PSUs vested on January 1, 2011; however, settlement of any shares took place following the calculation of the factor described in footnote (1). The factor used to determine the number of common shares awarded was determined following the filing of the Company's annual report on Form 10-K on March 2, 2011. The expiration date assumes that the Company would settle these PSUs within three months of the vesting date.
- [F4]Based on the FDROE achieved during the relevant period, the number of common shares awarded was determined by multiplying the number of PSUs by a factor of 1.5.
Documents
Issuer
Flagstone Reinsurance Holdings, S.A.
CIK 0001347815
Entity typeother
Related Parties
1- filerCIK 0001394387
Filing Metadata
- Form type
- 4
- Filed
- Mar 10, 7:00 PM ET
- Accepted
- Mar 11, 11:35 AM ET
- Size
- 8.8 KB