SEC Form 4 · accession 0001194794-17-000064
PROASSURANCE CORP · PRA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Katisha Terrell Vance
Director
Period of report
May 31, 2017
Accepted (ET)
May 31, 2017 · 7:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001127703
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 31, 2017 | A | 940 | $59.55 | A | 940 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1These shares are awarded under the ProAssurance Corporation Director Deferred Stock Compensation Plan and are exempt under Rule 16b-3. This grant was recommended by the Compensation Committee, which is composed entirely independent directors (as disclosed on page 15 of our 2017 Proxy Statement), and was approved by our Board of Directors at its meeting on May 31, 2017. This year, the recommended and approved stock compensation grant was for shares having a value not to exceed $56,000. The number of whole shares is determined using the closing price of a share of stock on the New York Stock Exchange (NYSE) on the day of the Board of Directors meeting following the Annual Meeting of Shareholders. The NYSE closing price on May 31, 2017 was $59.55, resulting in a distribution to each non-management director of 940 shares.