SEC Form 4 · accession 0001179110-16-022376
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 25, 2016
Accepted (ET)
Mar 29, 2016 · 5:43 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 25, 2016 | A | 11,119 | $0.00 | A | 12,891 | 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 7,413 shares of restricted stock granted on March 25, 2016 that are subject to performance-based vesting tied to growth rate of earnings per share and revenue measured against certain financial goals for the 24-month period consisting of calendar years 2016-2017 and the 36-month period consisting of calendar years 2016-2018, and 3,706 shares of restricted stock granted on March 25, 2016 that are subject to performance-based vesting based on 2016 net income and continued service, vesting 33 1/3% of the original award in each of the three anniversaries following the grant date.
- F2Represents 1,531,656 shares of common stock beneficially owned by Lonnie K. Ledbetter III, consisting of the following: (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.
Remarks
Exhibit 24 - Power of Attorney