SEC Form 4 · accession 0001365555-16-000331
Amtrust Financial Services, Inc. · AFSI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Max G Caviet
Officer — CEO of Subsidiary
Period of report
Sep 9, 2016
Accepted (ET)
Sep 13, 2016 · 8:29 am EDT
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 | Sep 9, 2016 | M | 14,402 | $0.00 | A | 391,231 | D | |
| Common StockF3 | Sep 9, 2016 | F | 6,769 | $26.36 | D | 384,462 | 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,F4,F5 | — | Sep 9, 2016 | M | 14,402 | D | — | — | Common Stock | 14,402 | 14,402 | D |
Explanation of responses
- F1As a result of AmTrust Financial Services, Inc.'s two-for-one stock split, 14,402 restricted stock units granted to the reporting person on September 9, 2013 that had not yet vested on February 2, 2016 became 28,804 restricted stock units.
- F2Acquisition of common stock resulting from the vesting of one-fourth of the restricted stock units granted to Mr. Caviet on September 9, 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 September 9, 2013.
- F4Each restricted stock unit represents a contingent right to receive one share of AmTrust Financial Services, Inc.'s common stock.
- F5On September 9, 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.