SEC Form 4 · accession 0001365555-16-000241
Amtrust Financial Services, Inc. · AFSI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Max G Caviet
Officer — President of Subsidiary
Period of report
Mar 5, 2016
Accepted (ET)
Mar 7, 2016 · 4:23 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 | Mar 5, 2016 | M | 11,292 | $0.00 | A | 373,008 | D | |
| Common StockF3 | Mar 5, 2016 | F | 5,308 | $25.73 | D | 367,700 | D | |
| Common StockF4,F5 | Mar 5, 2016 | M | 9,274 | $0.00 | A | 376,974 | D | |
| Common StockF6 | Mar 5, 2016 | F | 4,359 | $25.73 | D | 372,615 | D | |
| Common StockF7,F8 | Mar 5, 2016 | M | 7,952 | $0.00 | A | 380,567 | D | |
| Common StockF9 | Mar 5, 2016 | F | 3,738 | $25.73 | D | 376,829 | 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,F10,F11 | — | Mar 5, 2016 | M | 11,292 | D | — | — | Common Stock | 11,292 | 11,292 | D |
| Restricted Stock UnitsF4,F10,F12 | — | Mar 5, 2016 | M | 9,274 | D | — | — | Common Stock | 9,274 | 18,544 | D |
| Restricted Stock UnitsF7,F10,F13 | — | Mar 5, 2016 | M | 7,952 | D | — | — | Common Stock | 7,952 | 23,856 | D |
| Restricted Stock UnitsF10,F14 | — | Mar 5, 2016 | A | 32,388 | A | — | — | Common Stock | 32,388 | 32,388 | D |
Explanation of responses
- F1As a result of AmTrust Financial Services, Inc.'s two-for-one stock split, 11,292 restricted stock units granted to the reporting person on March 5, 2013 that had not yet vested on February 2, 2016 became 22,584 restricted stock units.
- F10Each restricted stock unit represents a contingent right to receive one share of AmTrust Financial Services, Inc.'s common stock.
- F11On March 5, 2013, Mr. Caviet received restricted stock units subject to a four-year vesting schedule, vesting one-fourth on each of 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.
- F12On March 5, 2014, Mr. Caviet received restricted stock units subject to a four-year vesting schedule, vesting one-fourth on each of 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.
- F13On March 5, 2015, Mr. Caviet received restricted stock units subject to a four-year vesting schedule, vesting one-fourth on each of 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.
- F14On March 5, 2016, Mr. Caviet received restricted stock units subject to a four-year vesting schedule, vesting one-fourth on each of 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.
- F2Acquisition of common stock resulting from the vesting of one-fourth of the restricted stock units granted to Mr. Caviet on March 5, 2013.
- F3Disposition 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. Caviet on March 5, 2013.
- F4As a result of AmTrust Financial Services, Inc.'s two-for-one stock split, 13,909 restricted stock units granted to the reporting person on March 5, 2014 that had not yet vested on February 2, 2016 became 27,818 restricted stock units.
- F5Acquisition of common stock resulting from the vesting of one-fourth of the restricted stock units granted to Mr. Caviet on March 5, 2014.
- F6Disposition 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. Caviet on March 5, 2014.
- F7As a result of AmTrust Financial Services, Inc.'s two-for-one stock split, 15,904 restricted stock units granted to the reporting person on March 5, 2015 that had not yet vested on February 2, 2016 became 31,808 restricted stock units.
- F8Acquisition of common stock resulting from the vesting of one-fourth of the restricted stock units granted to Mr. Caviet on March 5, 2015.
- F9Disposition 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. Caviet on March 5, 2015.