SEC Form 4 · accession 0001140361-18-014492
UNIVERSAL INSURANCE HOLDINGS, INC. · UVE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sean P Downes
Officer — CEO · Director
Period of report
Mar 19, 2018
Accepted (ET)
Mar 21, 2018 · 5:39 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000891166
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 20, 2018 | M | 175,000 | $24.18 | A | 1,590,981 | D | |
| Common Stock | Mar 20, 2018 | M | 133,334 | $19.52 | A | 1,724,315 | D | |
| Common Stock | Mar 20, 2018 | M | 300,000 | $19.52 | A | 2,024,315 | D | |
| Common Stock | Mar 20, 2018 | F | 475,174 | $32.70 | D | 1,549,141 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option to Purchase Common StockF1,F2 | $32.80 | Mar 19, 2018 | A | 463,047 | A | — | Mar 19, 2028 | Common Stock | 463,047 | 463,047 | D |
| Option to Purchase Common StockF3,F4 | $24.18 | Mar 20, 2018 | M | 175,000 | D | — | Jun 15, 2022 | Common Stock | 175,000 | 125,000 | D |
| Option to Purchase Common StockF5,F6 | $19.52 | Mar 20, 2018 | M | 133,334 | D | — | Feb 28, 2026 | Common Stock | 133,334 | 66,666 | D |
| Option to Purchase Common StockF5,F7 | $19.52 | Mar 20, 2018 | M | 300,000 | D | — | Feb 28, 2026 | Common Stock | 300,000 | 150,000 | D |
Explanation of responses
- F1Option was granted in connection with a Non-Qualified Stock Option Agreement by and between the Company and Mr. Downes, effective as of March 19, 2018.
- F2This option is scheduled to vest as follows: (a) 154,349 shares vest on January 15, 2019, (b) 154,349 shares vest on January 15, 2020 and (c) 154,349 shares vest on January 15, 2021.
- F3Option was granted in connection with a Non-Qualified Stock Option Agreement by and between the Company and Mr. Downes, effective as of June 15, 2015.
- F4This option is scheduled to vest as follows: (a) 100,000 shares vested on June 15, 2016; (b) 75,000 shares vested on June 15, 2017; (c) 75,000 shares vest on June 15, 2018; and (d) 50,000 shares vest on June 15, 2019.
- F5Option was granted in connection with a Non-Qualified Stock Option Agreement by and between the Company and Mr. Downes, effective as of February 29, 2016.
- F6This option is scheduled to vest as follows: (a) 66,667 shares vested on February 28, 2017, (b) 66,667 shares vested on February 28, 2018 and (c) 66,666 shares vest on February 28, 2019
- F7This option is scheduled to vest as follows: (a) 150,000 shares vested on January 15, 2017, (b) 150,000 shares vested on January 15, 2018 and (c) 150,000 shares vest on January 15, 2019.