SEC Form 4 · accession 0001547903-15-000147
NMI Holdings, Inc. · NMIH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick L Mathis
Officer — EVP, Chief Risk Officer
Period of report
Nov 7, 2015
Accepted (ET)
Nov 10, 2015 · 5:34 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 7, 2015 | M | 1,666 | $0.00 | A | 14,759 | D | |
| Class A Common Shares, $0.01 par value per shareF2 | Nov 9, 2015 | F | 627 | $7.75 | D | 14,132 | 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 7, 2015 | M | 1,666 | D | — | — | Class A Common Shares, $0.01 par value per share | 1,666 | 4,445 | D |
Explanation of responses
- F1Restricted stock units convert into common stock on a one-for-one basis.
- F2Represents 5,132 class A common shares and 9,000 unvested restricted stock units.
- 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 remaining vesting schedule for the restricted stock unit award is as follows: (i) 1,666 units vest based on continued service on the third anniversary date following the grant date, on November 7, 2015, (ii) 2,224 units will vest after the per share stock price equals or exceeds $14.00 for a 30-day trading period, and (iii) 2,221 units will vest after the per share stock price equals or exceeds $16.00 for a 30-day trading period.