SEC Form 4 · accession 0001365555-17-000095
Amtrust Financial Services, Inc. · AFSI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Saks
Officer — EVP, Chief Legal Officer
Period of report
May 23, 2017
Accepted (ET)
May 24, 2017 · 5:25 pm 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 | May 23, 2017 | M | 6,824 | $0.00 | A | 111,306 | D | |
| Common StockF2 | May 23, 2017 | F | 3,539 | $12.18 | D | 107,767 | D | |
| Common StockF3 | May 23, 2017 | M | 5,532 | $0.00 | A | 113,299 | D | |
| Common StockF4 | May 23, 2017 | F | 2,869 | $12.18 | D | 110,430 | D | |
| Common StockF5 | May 23, 2017 | M | 8,354 | $0.00 | A | 118,784 | D | |
| Common StockF6 | May 23, 2017 | F | 4,332 | $12.18 | D | 114,452 | D | |
| Common StockF7 | May 23, 2017 | M | 9,557 | $0.00 | A | 124,009 | D | |
| Common StockF8 | May 23, 2017 | F | 4,956 | $12.18 | D | 119,053 | 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 UnitsF9,F10 | — | May 23, 2017 | M | 6,824 | D | — | — | Common Stock | 6,824 | 0 | D |
| Restricted Stock UnitsF9,F11 | — | May 23, 2017 | M | 5,532 | D | — | — | Common Stock | 5,532 | 5,532 | D |
| Restricted Stock UnitsF9,F12 | — | May 23, 2017 | M | 8,354 | D | — | — | Common Stock | 8,354 | 16,704 | D |
| Restricted Stock UnitsF9,F13 | — | May 23, 2017 | M | 9,557 | D | — | — | Common Stock | 9,557 | 28,670 | D |
Explanation of responses
- F1Acquisition of common stock resulting from the vesting of one-fourth of the restricted stock units granted to Mr. Saks on May 23, 2013.
- F10On May 23, 2013, Mr. Saks 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.
- F11On May 23, 2014, Mr. Saks 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.
- F12On May 23, 2015, Mr. Saks 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.
- F13On May 23, 2016, Mr. Saks 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.
- F2Disposition 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. Saks on May 23, 2013.
- F3Acquisition of common stock resulting from the vesting of one-fourth of the restricted stock units granted to Mr. Saks on May 23, 2014.
- 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. Saks on May 23, 2014.
- F5Acquisition of common stock resulting from the vesting of one-fourth of the restricted stock units granted to Mr. Saks on May 23, 2015.
- 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. Saks on May 23, 2015.
- F7Acquisition of common stock resulting from the vesting of one-fourth of the restricted stock units granted to Mr. Saks on May 23, 2016.
- F8Disposition 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. Saks on May 23, 2016.
- F9Each restricted stock unit represents a contingent right to receive one share of AmTrust Financial Services, Inc.'s common stock.