SEC Form 4 · accession 0001160227-15-000006
Symetra Financial CORP · SYA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas M Marra
Officer — President, CEO · Director
Period of report
Jul 29, 2015
Accepted (ET)
Jul 31, 2015 · 5:14 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001403385
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F1 | $26.70 | Jul 29, 2015 | D | 1,250,000 | D | — | Jun 30, 2018 | Common Stock | 1,250,000 | 0 | D |
| Stock Option (Right to Buy)F1 | $26.20 | Jul 29, 2015 | A | 1,250,000 | A | — | Jun 30, 2018 | Common Stock | 1,250,000 | 1,250,000 | D |
Explanation of responses
- F1On July 27, 2015, Symetra Financial Corporation's board of directors declared an extraordinary cash dividend to shareholders of record as of August 10, 2015 of $0.50 per common share. Pursuant to the provisions of the Symetra Financial Corporation Equity Plan, on July 29, 2015, Symetra Financial Corporation's compensation committee approved a non-discretionary adjustment to outstanding stock options to reduce the exercise price of the options from $26.70 per share to $26.20 to reflect distribution of the extraordinary dividend to shareholders. The Securities and Exchange Commission deems any adjustment to the exercise price of an outstanding option to be a cancellation of the "old" option and a grant of a replacement option; therefore, these two reported transactions reflect the adjustment of that stock option. The adjusted stock option was originally granted on June 7, 2010 and vests on June 30, 2017.