SEC Form 4 · accession 0001179110-15-005671
State National Companies, Inc. · SNC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lonnie Kossuth Ledbetter III
Officer — EVP of Service
Period of report
Mar 30, 2015
Accepted (ET)
Apr 1, 2015 · 4:24 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001610793
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 30, 2015 | A | 15,030 | $0.00 | A | 15,130 | D | |
| Common StockF2 | holding | — | — | — | 1,531,656 | I | By Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents shares of restricted stock granted on March 30, 2015 that are subject to performance-based vesting over the performance period consisting of calendar year 2015. The number of shares set forth above is the maximum number of shares that can vest. The number of shares that will actually vest for the performance period will be based upon performance against certain financial goals for the Company, and will range from 0% to 100% of the maximum number of shares.
- F2Represents shares of common stock beneficially owned by Lonnie K. Ledbetter III of an aggregate of 1,531,656 shares held as follows: (i) 883,536 shares held by the following trusts for which Lonnie K. Ledbetter III serves as sole trustee and over which shares he has sole voting power and shared dispositive power with an independent trustee: (A) 220,884 shares held by the Lonnie K. Ledbetter III 2006 Grantor Trust No. 2; (B) 441,768 shares held by the Kendall Kaye Ledbetter 2010 Grantor Trust No. 2; and (C) 220,884 shares held by the Lonnie K. Ledbetter III 2010 Grantor Trust No. 2; and (ii) 648,120 shares held by the Bradford Luke Ledbetter 1999 Grantor Trust No. 2 for which he serves as co-trustee with Bradford Luke Ledbetter, with whom he shares voting and dispositive power over such shares.