SEC Form 4 · accession 0000793547-15-000032
NAVIGATORS GROUP INC · NAVG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Vincent C Tizzio
Officer — CEO & President, NMC (sub)
Period of report
Mar 10, 2015
Accepted (ET)
Mar 12, 2015 · 5:10 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000793547
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF1,F2 | — | Mar 10, 2015 | A | 4,500 | A | — | — | Common Stock | 4,500 | 4,500 | D |
Explanation of responses
- F1Each performance unit represents a contingent right to receive the closing price of one share of NAVG common stock as of the date of vesting.
- F2Performance units vesting on March 5, 2018, subject to the Reporting Person's continued employment. The number of performance units that will vest, which can range from 50% to 150% of the performance units reported on this Form 4, depends on the attainment of certain performance targets over a three-year period ending December 31, 2017.