SEC Form 4 · accession 0001127602-15-011330
RLI CORP · RLI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jonathan E Michael
Officer — President · Director
Period of report
Mar 13, 2015
Accepted (ET)
Mar 16, 2015 · 10:55 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000084246
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 13, 2015 | M | 21,000 | $14.02 | A | 503,100 | D | |
| Common StockF1 | Mar 13, 2015 | M | 21,000 | $15.105 | A | 524,100 | D | |
| Common StockF1 | Mar 13, 2015 | M | 21,000 | $15.045 | A | 545,100 | D | |
| Common StockF1 | Mar 13, 2015 | F | 38,815 | $50.25 | D | 506,285 | D | |
| Common StockF2 | holding | — | — | — | 210,325 | I | By Empl. Stock Ownership Plan | |
| Common StockF1 | holding | — | — | — | 114,020 | I | By Key Employee Benefit Plan | |
| Common StockF1 | holding | — | — | — | 46,016 | I | By Trust | |
| Common StockF1 | holding | — | — | — | 8,306 | I | J.E. Michael 2012 Grantor Retained Annuity Trust Dtd 07/24/12 | |
| Common Stock | holding | — | — | — | 23,274 | I | J.E. Michael 2014 GRAT 1 dtd 08/06/14 | |
| Common Stock | holding | — | — | — | 23,274 | I | J.E. Michael 2014 GRAT 2 dtd 08/06/14 |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF3,F4,F5,F6,F7,F8,F9 | $14.02 | Mar 13, 2015 | M | 21,000 | D | Nov 3, 2007 | Nov 3, 2016 | Common Stock | 21,000 | 0 | D |
| Stock OptionF3,F4,F5,F6,F7,F8,F9 | $15.105 | Mar 13, 2015 | M | 21,000 | D | Feb 2, 2008 | Feb 2, 2017 | Common Stock | 21,000 | 0 | D |
| Stock OptionF3,F4,F5,F6,F7,F8,F9 | $15.045 | Mar 13, 2015 | M | 21,000 | D | May 3, 2008 | May 3, 2017 | Common Stock | 21,000 | 0 | D |
Explanation of responses
- F1Ownership reflects dividend reinvestment
- F2Balance reflects annual company contributions and dividend reinvestment.
- F3Stock option grant price adjusted to reflect $3.00 extraordinary dividend declared 11/13/14.
- F4Stock option grant price adjusted to reflect $3.00 extraordinary dividend declared 11/14/13.
- F5Stock option grant price adjusted to reflect $5 extraordinary dividend declared 11/14/12.
- F6Stock Option grant price adjusted to reflect $5 RLI extraordinary dividend declared 11/17/11.
- F7Stock Option grant price adjusted to reflect $7 RLI extraordinary dividend paid 12/29/10.
- F8Stock option grant price and number of stock options adjusted to reflect 2-for-1 stock split on 01/15/14.
- F9Pursuant to option schedule wherein 20% of the aggregate number of shares granted may be exercised commencing one year from grant date and each year thereafter in 20% increments.