|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
|
| |||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
| 1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Market Share Units | (3) (4) | 03/02/2015 | D | 4,886 (1) | (3)(4) | (3)(4) | Common Shares | (3) (4) | (3) (4) | 0 | D | ||||
| Market Share Units | (3) (5) | 03/02/2015 | D | 6,803 (1) | (3)(5) | (3)(5) | Common Shares | (3) (5) | (3) (5) | 0 | D | ||||
| Non-qualified Option (Right to Buy) | $ 33.92 | 03/02/2015 | D | 10,276 (1) | (6) | 02/20/2018 | Common Shares | (3) (7) | (3) (7) | 0 | D | ||||
| Non-qualified Option (Right to Buy) | $ 34.34 | 03/02/2015 | D | 23,239 (1) | (8) | 05/29/2017 | Common Shares | (3) (7) | (3) (7) | 0 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| Kurtzman Kenneth A PLATINUM ADMINISTRATIVE SERVICES, INC. 2 STAMFORD PLAZA, SUITE 1504 STAMFORD, CT 06901 |
EVP, CRO & IR DIR - PASI | |||
| /s/ Molly E. Gardner, Attorney-in-fact | 03/02/2015 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | Disposed of in connection with the Agreement and Plan of Merger ("Merger Agreement") between the Issuer, RenaissanceRe Holdings Ltd. ("RenaissanceRe") and Port Holdings Ltd., dated as of November 23, 2014. |
| (2) | Pursuant to the terms of the Merger Agreement, upon closing of the merger, these Common Shares will be cancelled and the holder will receive, per his election, an amount equal to 0.2960 common shares of RenaissanceRe and $35.96 in cash per each of his Common Shares, subject to proration. Fractional RenaissanceRe common shares will be paid in cash. |
| (3) | This consideration amount is subject to adjustment due to possible proration calculations provided for in the Merger Agreement. Specifically, the cash election consideration is subject to proration if the un-prorated aggregate share consideration is less than 7,500,000 RenaissanceRe common shares, and the share election consideration is subject to proration if the un-prorated aggregate share consideration is greater than 7,500,000 RenaissanceRe common shares. This proration calculation has not been finalized as of the date of this Form 4 and thus it is not possible to determine the exact amount of consideration to be received by the reporting person as of the date of this Form 4. Once the exact amount of consideration is determined, the reporting person will file an amendment to this Form 4, if necessary. |
| (4) | These Market Share Units were granted on July 24, 2013. Pursuant to the terms of the Merger Agreement, upon closing of the merger, these Market Share Units will be cancelled and the holder will receive, per their election, an amount equal to 0.2960 common shares of RenaissanceRe and $35.96 in cash per each MSU achieved share (as defined in the Merger Agreement), subject to proration. The MSU achieved shares equaled 1.33 times each Market Share Unit, based on the difference between the average closing prices of the Common Shares for the twenty trading days ending on February 27, 2015 and June 30, 2013. Fractional RenaissanceRe common shares will be paid in cash. |
| (5) | These Market Share Units were granted on July 23, 2012. Pursuant to the terms of the Merger Agreement, upon closing of the merger, these Market Share Units will be cancelled and the holder will receive, per their election, an amount equal to 0.2960 common shares of RenaissanceRe and $35.96 in cash per each MSU achieved share (as defined in the Merger Agreement), subject to proration. The MSU achieved shares equaled 1.5 times each Market Share Unit, based on the difference between the average closing prices of the Common Shares for the twenty trading days ending on February 27, 2015 and June 30, 2012. Fractional RenaissanceRe common shares will be paid in cash. |
| (6) | The Option vested in four equal annual installments beginning on February 20, 2009. |
| (7) | Pursuant to the terms of the Merger Agreement, upon closing of the merger, these Options will be cancelled and the holder will receive, per their election, an amount equal to 0.2960 common shares of RenaissanceRe and $35.96 in cash per each Common Share obtainable upon exercise of the Option, subject to proration. Fractional RenaissanceRe common shares will be paid in cash. |
| (8) | The Option vested in four equal annual installments beginning on February 21, 2008. |