SEC Form 4 · accession 0001127602-16-067991
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
Nov 21, 2016
Accepted (ET)
Nov 22, 2016 · 11:53 am EST
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 | Nov 21, 2016 | M | 6,000 | $22.295 | A | 659,244 | D | |
| Common StockF1 | Nov 21, 2016 | M | 24,000 | $24.915 | A | 683,244 | D | |
| Common StockF1 | Nov 21, 2016 | M | 18,000 | $28.24 | A | 701,244 | D | |
| Common StockF1 | Nov 21, 2016 | M | 12,000 | $29.42 | A | 713,244 | D | |
| Common StockF1 | Nov 21, 2016 | M | 12,000 | $35.27 | A | 725,244 | D | |
| Common StockF1 | Nov 21, 2016 | M | 50,339 | $62.80 | D | 674,905 | D | |
| Common StockF2 | holding | — | — | — | 223,067 | I | By Empl. Stock Ownership Plan | |
| Common StockF1 | holding | — | — | — | 120,492 | I | By Key Employee Benefit Plan | |
| Common StockF1 | holding | — | — | — | 48,627 | I | By Trust | |
| Common StockF1 | holding | — | — | — | 20,325 | I | J.E. Michael 2014 GRAT 1 dtd 08/05/14 | |
| Common StockF1 | holding | — | — | — | 22,987 | I | J.E. Michael 2014 GRAT 2 dtd 08/05/14 |
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 | $22.295 | Nov 21, 2016 | M | 6,000 | D | Nov 1, 2012 | Nov 1, 2019 | Common Stock | 6,000 | 0 | D |
| Stock OptionF3,F4,F5,F6,F8,F9 | $24.915 | Nov 21, 2016 | M | 24,000 | D | Nov 1, 2013 | Nov 1, 2020 | Common Stock | 24,000 | 6,000 | D |
| Stock OptionF3,F4,F5,F8,F9 | $28.24 | Nov 21, 2016 | M | 18,000 | D | Feb 1, 2014 | Feb 1, 2021 | Common Stock | 18,000 | 12,000 | D |
| Stock OptionF3,F4,F5,F8,F9 | $29.42 | Nov 21, 2016 | M | 12,000 | D | May 2, 2014 | May 2, 2021 | Common Stock | 12,000 | 8,000 | D |
| Stock OptionF3,F4,F5,F8,F9 | $35.27 | Nov 21, 2016 | M | 12,000 | D | Aug 1, 2014 | Aug 1, 2021 | Common Stock | 12,000 | 8,000 | D |
Explanation of responses
- F1Ownership reflects dividend reinvestment
- F2Balance reflects annual company contributions and dividend reinvestment.
- F3Stock option grant price adjusted to reflect $2.00 extraordinary dividend declared 11-12-15.
- F4Stock option grant price adjusted to reflect $3.00 extraordinary dividend declared 11/13/14.
- F5Stock option grant price adjusted to reflect $3.00 extraordinary dividend declared 11/14/13.
- F6Stock option grant price adjusted to reflect $5 extraordinary dividend declared 11/14/12.
- F7Stock Option grant price adjusted to reflect $5 RLI extraordinary dividend declared 11/17/11.
- 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.