SEC Form 4 · accession 0001209191-17-018642
NAVIGATORS GROUP INC · NAVG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stanley A Galanski
Officer — President & CEO · Director
Period of report
Mar 3, 2017
Accepted (ET)
Mar 7, 2017 · 2:10 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000793547
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Mar 3, 2017 | A | 79,985 | $0.00 | A | 383,029 | D | |
| Common StockF2 | Mar 3, 2017 | F | 38,590 | $55.70 | D | 344,439 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF4,F5 | — | Mar 3, 2017 | A | 35,907 | A | — | — | Common Stock | 35,907 | 35,907 | D |
Explanation of responses
- F1Vesting of performance units grant.
- F2Excludes unvested shares of stock awards over which the Reporting Person does not have voting or dispositive control.
- F3Shares withheld to satisfy tax obligation arising out of vesting of performance units.
- F4Each performance unit represents a contingent right to receive the closing price of one share of NAVG common stock as of the date of vesting.
- F5Performance units vesting on March 3, 2020, 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, 2019.