Filing Details
- Accession Number:
- 0001181580-15-000017
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2015-12-04 12:06:14
- Reporting Period:
- 2015-12-03
- Filing Date:
- 2015-12-04
- Accepted Time:
- 2015-12-04 12:06:14
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 819913 | Hallmark Financial Services Inc | HALL | Insurance Carriers, Nec (6399) | 870447375 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1276385 | Kevin Kasitz | 777 Main Street Suite 1000 Fort Worth TX 76102 | Executive Vice President | No | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Acquisiton | 2015-12-03 | 5,000 | $11.34 | 48,093 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2015-12-03 | 5,000 | $12.70 | 43,093 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | EMPLOYEE STOCK OPTION (RIGHT TO BUY) | Disposition | 2015-12-03 | 5,000 | $0.00 | 5,000 | $11.34 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 11,667 | 2016-05-25 | No | 4 | M | Direct |
Reported Derivative Holdings
| Sec. Name | Sec. Type | Price | Date | Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|---|---|---|---|
| Common Stock | RESTRICTED STOCK UNITS | $0.00 | 2017-03-31 | 2017-03-31 | 0 | 14,234 | Direct |
| Common Stock | RESTRICTED STOCK UNITS | $0.00 | 2016-03-31 | 2016-03-31 | 0 | 15,040 | Direct |
| Common Stock | EMPLOYEE STOCK OPTION (RIGHT TO BUY) | $6.61 | 2019-04-01 | 55,000 | 55,000 | Direct | |
| Common Stock | EMPLOYEE STOCK OPTION (RIGHT TO BUY) | $11.46 | 2018-05-22 | 37,500 | 37,500 | Direct | |
| Common Stock | EMPLOYEE STOCK OPTION (RIGHT TO BUY) | $12.52 | 2017-05-24 | 75,000 | 75,000 | Direct |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 2017-03-31 | 0 | 14,234 | Direct |
| 2016-03-31 | 0 | 15,040 | Direct |
| 2019-04-01 | 55,000 | 55,000 | Direct |
| 2018-05-22 | 37,500 | 37,500 | Direct |
| 2017-05-24 | 75,000 | 75,000 | Direct |
Footnotes
- Represents the weighted average price of transactions effected at prices ranging from $12.58 per share to $12.93 per share. Upon written request by the SEC, the Issuer or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria are based on the compound average annual growth rate ("CAGR") in book value per share from January 1, 2014 to December 31, 2016, and earn a percentage of a share of common stock per restricted stock unit, as follows: (i) CAGR less than 8% earns 0%; (ii) 8% CAGR earns 50%; (iii) 9% CAGR earns 64%; (iv) 10% CAGR earns 79%; (v) 11% CAGR earns 93%; (vi) 12% CAGR earns 107% shares; (vii) 13% CAGR earns 122%; (viii) 14% CAGR earns 136%; and (ix) 15% or greater CAGR earns 150%.
- Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria are based on the compound average annual growth rate ("CAGR") in book value per share from January 1, 2013 to December 31, 2015, and earn a percentage of a share of common stock per restricted stock unit, as follows: (i) CAGR less than 8% earns 0%; (ii) 8% CAGR earns 50%; (iii) 9% CAGR earns 64%; (iv) 10% CAGR earns 79%; (v) 11% CAGR earns 93%; (vi) 12% CAGR earns 107% shares; (vii) 13% CAGR earns 122%; (viii) 14% CAGR earns 136%; and (ix) 15% or greater CAGR earns 150%.
- Represents grant of employee stock options which become exercisable in seven equal annual installments commencing April 1, 2010.
- Represents employee stock options exercisable as to 3,750, 7,500, 11,250 and 15,000 shares on May 22, 2009, 2010, 2011 and 2012, respectively.
- Represents employee stock options exercisable as to 7,500, 15,000, 22,500 and 30,000 shares on May 24, 2008, 2009, 2010 and 2011, respectively.
- Represents employee stock options exercisable as to 1,667, 3,333, 5,000 and 6,667 shares on May 25, 2007, 2008, 2009 and 2010, respectively.
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