SEC Form 4 · accession 0001179110-15-005672
State National Companies, Inc. · SNC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Terry Lee Ledbetter
Officer — President, and CEO · Director · 10% Owner
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 | 200,000 | $0.00 | A | 200,100 | D | |
| Common StockF2 | holding | — | — | — | 5,160,732 | 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 three performance periods: the 12-month period consisting of calendar year 2015; the 24-month period consisting of calendar years 2015-2016; and the 36-month period consisting of calendar years 2015-2017. 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 each 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 held by The Terry Lee Ledbetter and Reta Laurie Ledbetter 2000 Revocable Trust, of which Terry Lee Ledbetter and Reta Laurie Ledbetter serve as co-trustees and, accordingly, share voting and dispositive power over the shares of the issuer held by the trust.