SEC Form 4 · accession 0001209191-16-118823
XL GROUP LTD · XL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jacob D. Rosengarten
Officer — Chief Enterprise Risk Officer
Period of report
May 6, 2016
Accepted (ET)
May 10, 2016 · 4:41 pm EDT
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 |
|---|---|---|---|---|---|---|---|---|
| Ordinary SharesF1,F2 | May 6, 2016 | M | 9,431 | $0.00 | A | 41,009 | D | |
| Ordinary SharesF3,F4 | May 6, 2016 | M | 459 | $0.00 | A | 41,468 | D | |
| Ordinary SharesF5 | May 6, 2016 | F | 4,841 | $33.11 | D | 36,627 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F6 | — | May 6, 2016 | M | 9,431 | D | — | — | Ordinary Shares | 9,431 | 15,719 | D |
| Dividend Equivalent UnitsF4 | — | May 6, 2016 | M | 459 | D | — | — | Ordinary Shares | 459 | 460 | D |
Explanation of responses
- F1Shares acquired in relation to the 2014 restricted stock unit award vesting.
- F2Each restricted stock unit represents a contingent right to receive one XL ordinary share.
- F3Shares acquired in relation to the 2014 dividend equivalent unit award vesting.
- F4Settlement of dividend equivalent rights in connection with vesting of restricted stock units. The rights accrued when and as dividends were paid on XL ordinary shares. Each dividend equivalent right is the economic equivalent of one XL ordinary share.
- F5Shares disposed of represent withholding to satisfy a tax obligation upon vesting of restricted stock units and associated dividend equivalent units.
- F6Restricted stock units granted on May 6, 2014 vest 20% upon the 1st anniversary of the grant date; 30% on the 2nd anniversary; 50% on 3rd anniversary and the reporting person's employment continues through such vesting dates.