SEC Form 4 · accession 0001209191-16-104068
XL GROUP LTD · XL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter R Porrino
Officer — Chief Financial Officer
Period of report
Feb 28, 2016
Accepted (ET)
Mar 1, 2016 · 5:14 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000875159
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| XL Ordinary SharesF1 | Feb 28, 2016 | A | 39,186 | $0.00 | A | 120,000 | D | |
| XL Ordinary SharesF2 | Feb 28, 2016 | F | 14,942 | $34.64 | D | 105,058 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to buy)F3 | $34.64 | Feb 28, 2016 | A | 183,640 | A | — | Feb 28, 2026 | Ordinary Shares | 183,640 | 183,640 | D |
Explanation of responses
- F1Represents settlement of long-term incentive awards for the 2013-2015 performance cycle.
- F2Shares disposed of represent withholding to satisfy tax obligations on vesting of long-term incentives for the 2013-2015 performance cycle.
- F3Exercisable in three equal annual installments commencing on the first anniversary of the grant.