SEC Form 4 · accession 0001179110-16-022380
State National Companies, Inc. · SNC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Terry Lee Ledbetter
Officer — Chief Executive Officer · Director · 10% Owner
Period of report
Mar 25, 2016
Accepted (ET)
Mar 29, 2016 · 5:46 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 | 123,558 | $0.00 | A | 323,658 | 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 82,372 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 41,186 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 shares of common stock held by The Terry Lee Ledbetter and Reta Laurie Ledbetter 2000 Revocable Trust of which Terry Ledbetter and Reta Ledbetter serve as co-trustees and share voting and dispositive power.
Remarks
Exhibit 24 - Power of Attorney