SEC Form 4 · accession 0001209191-18-018792
NAVIGATORS GROUP INC · NAVG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Carl L Bach III
Officer — Managing Director NUAL (sub)
Period of report
Mar 8, 2018
Accepted (ET)
Mar 12, 2018 · 3:20 pm EDT
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 StockF1,F2 | Mar 8, 2018 | S | 2,000 | $56.51 | D | 15,541 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF3,F4 | — | Mar 8, 2018 | A | 3,000 | A | — | — | Common Stock | 3,000 | 3,000 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighed average price. These shares were sold in multiple transactions at prices ranging from $56.505 to $56.55, inclusive. The Reporting Person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.
- F2Excludes unvested shares of stock awards over which the Reporting Person does not have voting or dispositive control.
- F3Each performance unit represents a contingent right to receive the closing price of one share of NAVG common stock as of the date of vesting.
- F4Performance units vesting on March 2, 2021, 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, 2020.