SEC Form 4 · accession 0001365555-16-000211
Amtrust Financial Services, Inc. · AFSI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Saxon
Officer — EVP, Chief Operating Officer
Period of report
Feb 15, 2016
Accepted (ET)
Feb 16, 2016 · 5:05 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001365555
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Feb 15, 2016 | M | 12,654 | $0.00 | A | 597,336 | D | |
| Common StockF4 | Feb 15, 2016 | F | 4,517 | $25.05 | D | 592,819 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F5,F6 | — | Feb 15, 2016 | M | 12,654 | D | — | — | Common Stock | 12,654 | 0 | D |
Explanation of responses
- F1As a result of AmTrust Financial Services, Inc.'s two-for-one stock split, 6,327 restricted stock units granted to the reporting person on February 15, 2012 that had not yet vested on February 2, 2016 became 12,654 restricted stock units.
- F2Acquisition of common stock resulting from the vesting of one-fourth of the restricted stock units granted to Mr. Saxon on February 15, 2012.
- F3On February 2, 2016, the common stock of AmTrust Financial Services, Inc. split two-for-one, resulting in the reporting person's ownership of 292,341 additional shares of common stock.
- F4Disposition of common stock resulting from the withholding of securities for the payment of tax liability relating to the vesting of one-fourth of the restricted stock units granted to Mr. Saxon on February 15, 2012.
- F5Each restricted stock unit represents a contingent right to receive one share of AmTrust Financial Services, Inc.'s common stock.
- F6On February 15, 2012, Mr. Saxon received restricted stock units subject to a four-year vesting schedule, vesting 25% on the first, second, third and fourth anniversaries of the grant date. As restricted stock units vest, the vested units are automatically converted to vested common stock on a one-for-one basis on the vesting date.