Skoch Edwin 4
4 · NYMAGIC INC · Filed Nov 24, 2010
Insider Transaction Report
Form 4
NYMAGIC INCNYM
Skoch Edwin
Other
Transactions
- Disposition to Issuer
Common Stock
2010-11-23$25.75/sh−4,752$122,364→ 0 total - Disposition to Issuer
Common Stock - Restricted Share Units
2010-11-23$25.75/sh−8,000$206,000→ 0 total
Footnotes (2)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger by and among ProSight Specialty Insurance Holdings, Inc. ("ProSight"), PSI, Merger Sub Inc. ("Merger Sub") and NYMAGIC, INC. (the "Company"), dated as of July 15, 2010 which provided for Merger in which the Company would become a wholly-owned subsidiary of ProSight and would cease to be an independent, publicly-traded company (the "Merger"). Ther Merger became effective on November 23, 2010. At the effective time of the Merger, each outstanding share of the Companies common stock (other than shares owned by the Company, it's subsidiaries, ProSight or Merger Sub) converted into the right into the right to receive $25.75 in cash, without interest unless any applicable withholding taxes, (the "Merger Consideration").
- [F2]As of the effective time of the Merger each restricted stock unit, whether vested or unvested ("Company RSU") each deferred stock unit ("Company DSU"), and each performance stock unit for which the performance target have been achieved ("Company PSU"), were cancelled and converted into the right to receive an amount of cash, equal to (A) the number of shares of Company common stock issuable upon conversion of such Company RSU, Company DSU or Company PSU multiplied by the Merger Consideration plus (B) any interest and the value of an dividend and rights credited with respect to any such Company RSU, Company DSU or Company PSU minus (C) and required withholding taxes.