SEC Form 4 · accession 0001547903-15-000144
NMI Holdings, Inc. · NMIH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Curry Montgomery
Director
Period of report
Nov 8, 2015
Accepted (ET)
Nov 10, 2015 · 5:33 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001547903
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common Shares, $0.01 par value per shareF1 | Nov 8, 2015 | M | 15,470 | $0.00 | A | 21,615 | D | |
| Class A Common Shares, $0.01 par value per shareF2 | Nov 8, 2015 | J | 15,470 | $0.00 | D | 6,145 | 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 Unit (right to receive)F1,F3 | $0.00 | Nov 8, 2015 | M | 15,470 | D | — | — | Class A Common Shares, $0.01 par value per share | 15,470 | 0 | D |
Explanation of responses
- F1Restricted stock units convert into common stock on a one-for-one basis.
- F2The reporting person's employment arrangement requires him to transfer all of the shares that vested on November 8, 2015 to Glendon Capital Management, L.P. The reporting person held these shares for the benefit of Glendon Capital Management, L.P. and had no pecuniary interest in the shares.
- F3Granted pursuant to the NMI Holdings, Inc. 2012 Stock Incentive Plan. Each restricted stock unit represents a contingent right to receive one NMI Holdings, Inc. common share upon vesting and settlement. The restricted stock unit award is time vested based generally on continued service and is scheduled to vest in equal installments on each of the second and third anniversaries of the date of the grant, which grant occurred on November 8, 2012.