SEC Form 4 · accession 0001401521-18-000089
AMERICAN COASTAL INSURANCE Corp · ACIC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brad Martz
Officer — Chief Financial Officer
Period of report
Sep 18, 2018
Accepted (ET)
Oct 9, 2018 · 4:18 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001401521
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 51,946 | 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,F2 | — | Sep 18, 2018 | A | 5,088 | A | — | — | Common Stock | 5,088 | 5,088 | D |
| Performance Stock UnitsF1,F3,F4 | — | Sep 18, 2018 | A | 10,176 | A | — | — | Common Stock | 10,176 | 10,176 | D |
| Nonqualified Stock OptionsF5 | $20.44 | Sep 18, 2018 | A | 5,088 | A | — | Sep 18, 2028 | Common Stock | 5,088 | 5,088 | D |
| Nonqualified Stock OptionsF6 | $21.13 | Oct 5, 2018 | A | 13,543 | A | — | Oct 5, 2028 | Common Stock | 13,543 | 13,543 | D |
Explanation of responses
- F1Each stock unit represents a conditional right to receive one share of the company's common stock.
- F2The restricted stock units are subject to vesting over three years with one third, rounded down to the nearest whole share of stock, becoming vested on each of September 18, 2019 and September 18, 2020, as applicable. The remainder of the restricted stock units will become vested on September 18, 2021.
- F3The performance units are subject to vesting over three years with one third, rounded down to the nearest whole share of stock, becoming vested on each of April 1, 2019 and April 1, 2020, as applicable. The remainder of the performance units will become vested on April 1, 2021.
- F4The number of shares of common stock that will be delivered for each performance stock unit depends on the achievement of certain performance factors. Depending on actual performance, the number of shares of common stock delivered upon the vesting date (based on the terms outlined in the respective award agreement) can range from 0% to 150% of the number presented above.
- F5Exercise of the nonqualifed award is subject to vesting over three years with one third, rounded down to the nearest whole share of stock, becoming exercisable on each of September 18, 2019 and September 18, 2020, as applicable. The remainder of the nonqualified award will become exercisable on September 18, 2021.
- F6Exercise of the nonqualified award is subject to vesting over three years with one third, rounded won to the nearest whole share of stock, becoming exercisable on each of October 5, 2019 and October 5, 2020, as applicable. The remainder of the nonqualified award will become exercisable on October 5, 2021.