SEC Form 4 · accession 0001415889-18-000002
AMERINST INSURANCE GROUP LTD
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
F. Kyle Nieman III
Officer — PRESIDENT, CEO OF SUBSIDIARY
Period of report
Jan 1, 2018
Accepted (ET)
Jan 2, 2018 · 1:08 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001065201
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock OptionsF1,F2 | $30.00 | Jan 1, 2018 | A | 5,000 | A | Jan 1, 2018 | Jan 1, 2028 | Common Stock | 5,000 | 5,000 | D |
Explanation of responses
- F1The exercise price is equal to the net book value of the issuer's common stock as of December 31, 2018, which is currently estimated to be approximately $30.00 per share. The reporting person will amend this Form 4 if the actual net book value per share of the issuer's common stock, based on the issuer's audited financial statements as of and for the year ended December 31, 2017, differs from the amount estimated.
- F2Options vest in five equal annual installments beginning on the first anniversary of the date of grant.