SEC Form 4 · accession 0001209191-15-059223
Enstar Group LTD · ESGR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hiteshkumar R. Patel
Director
Period of report
Jul 1, 2015
Accepted (ET)
Jul 2, 2015 · 8:22 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001363829
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Share UnitF2,F1 | — | Jul 1, 2015 | A | 50 | A | — | — | Ordinary Shares | 50 | 50 | D |
| Restricted Share UnitF4,F3 | — | Jul 1, 2015 | A | 439 | A | — | — | Ordinary Shares | 439 | 439 | D |
Explanation of responses
- F1Each Share Unit is granted pursuant to the Enstar Group Limited Deferred Compensation and Ordinary Share Plan for Non-Employee Directors (the "Plan"). Pursuant to the Plan, each Share Unit is the economic equivalent of one ordinary share. The Share Units become payable in ordinary shares (with any fractional shares paid in cash) upon the Reporting Person's termination of service as a member of the Board of Directors of Enstar Group Limited.
- F2Share Units granted as a result of the Reporting Person's election, pursuant to the Plan, to defer a portion of his quarterly cash director fees.
- F3Each Restricted Share Unit is granted pursuant to the Plan and is the economic equivalent of one ordinary share. The Restricted Share Units vest on July 1, 2016. Vested units become payable in ordinary shares (with any fractional shares paid in cash) upon the Reporting Person's termination of service as a member of the Board of Directors of Enstar Group Limited.
- F4Restricted Share Units granted as a result of the Reporting Person's election, pursuant to the Plan, to defer the annual director retainer that would otherwise have been paid in restricted ordinary shares.