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Filing Details

Accession Number:: 0001209191-11-020617
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-04-01 16:36:35
Reporting Period:: 2011-03-30

Filing Date:: 2011-04-01
Accepted Time:: 2011-04-01 16:36:35
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1179755	Endurance Specialty Holdings Ltd	ENH	Fire, Marine & Casualty Insurance (6331)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1244613	J Kenneth Lestrange	C/O Endurance Specialty Holdings Ltd. Wellesley House, 90 Pitts Bay Road Pembroke D0 HM 08		No	No	No	Yes

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Ordinary Shares, Par Value $1.00 Per Share	Acquisiton	2011-03-30	50,000	$12.57	357,411	No	4	M	Direct
Ordinary Shares, Par Value $1.00 Per Share	Disposition	2011-03-30	50,000	$46.19	307,411	No	4	S	Direct
Ordinary Shares, Par Value $1.00 Per Share	Acquisiton	2011-03-31	180,448	$12.57	487,859	No	4	M	Direct
Ordinary Shares, Par Value $1.00 Per Share	Disposition	2011-03-31	180,448	$47.68	307,411	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Ordinary Shares	Option	Disposition	2011-03-30	50,000	$0.00	50,000	$12.57
Ordinary Shares	Option	Disposition	2011-03-31	180,448	$0.00	180,448	$12.57
Ordinary Shares	Restricted Share Unit	Acquisiton	2011-03-31	2,689	$0.00	2,689	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
180,448	2006-12-14	2011-12-14	No	4	M	Direct
0	2006-12-14	2011-12-14	No	4	M	Direct
7,813		2012-03-01	No	4	A	Direct

Footnotes

Shares sold pursuant to Rule 144 of the Securities Act of 1933, as amended. The shares were sold in multiple transactions. The price shown is the weighted average sales price per share of all shares sold on this date; the actual sales prices per share ranged from $45.50 to $47.42. The reporting person hereby undertakes to provide upon request to the SEC staff or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
Shares sold pursuant to Rule 144 of the Securities Act of 1933, as amended. The shares were sold in multiple transactions. The price shown is the weighted average sales price per share of all shares sold on this date; the actual sales prices per share ranged from $46.87 to $48.98. The reporting person hereby undertakes to provide upon request to the SEC staff or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
The restricted share units are forfeitable only upon violation of a non-competition restriction and are converted into ordinary shares or their cash equivalent on March 1, 2012.
The number of restricted share units issued was determined pursuant to the terms of the agreement governing the securities based on (i) the cumulative dividends that would otherwise have been used to reduce the strike price on options previously granted to the holder in order to make such options compliant with Section 409A of the Internal Revenue Code and the regulations promulgated by the U.S. Internal Revenue Service under Section 409A and (ii) the closing sale price of the Company's ordinary shares on the dates the dividends were originally paid.