SEC Form 4 · accession 0001209191-16-103250
Chubb Ltd · CB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Philip V Bancroft
Officer — Chief Financial Officer
Period of report
Feb 25, 2016
Accepted (ET)
Feb 29, 2016 · 1:07 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000896159
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF1 | Feb 25, 2016 | A | 7,681 | $0.00 | A | 282,675 | D | |
| Common SharesF2 | Feb 25, 2016 | A | 16,128 | $0.00 | A | 298,803 | D | |
| Common SharesF3 | Feb 25, 2016 | A | 16,128 | $0.00 | A | 314,931 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Options to Acquire Common SharesF4,F5 | $118.39 | Feb 25, 2016 | A | 20,481 | A | — | Feb 25, 2026 | Common Shares | 20,481 | 188,363 | D |
Explanation of responses
- F1Restricted stock award pursuant to ACE Limited 2004 Long-Term Incentive Plan (the "Plan"). Stock vests as follows: 1/4 on the first anniversary of the date of the award, 1/4 on the second anniversary of the date of the award, 1/4 on the third anniversary of the date of the award and 1/4 on the fourth anniversary of the date of the award.
- F2Restricted stock award pursuant to the Plan. Stock vests as follows: 1/4 on the first anniversary of the date of the award, 1/4 on the second anniversary of the date of the award, 1/4 on the third anniversary of the date of the award and 1/4 on the fourth anniversary of the date of the award subject to the satisfaction of certain service and performance based criteria. Stock that does not become vested on a specified vesting date may become vested on a subsequent vesting date subject to the satisfaction of certain service and performance based criteria assessed as of such subsequent vesting date. Dividends shall be accumulated and distributed only when, and to the extent, that the shares have vested.
- F3Restricted stock award pursuant to the Plan, representing a premium performance award with respect to the performance restricted stock awards described above. Stock vests on the fourth anniversary of the date of the award, subject to the satisfaction of certain service and performance based criteria. Shares will not be entitled to vote until vested. Dividends shall be accumulated and distributed only when, and to the extent, that the shares have vested.
- F4Option award pursuant to the Plan. Options vest as follows: 1/3 of the first anniversary date of the award, 1/3 of the second anniversary date of the award and 1/3 of the third anniversary date of the award.
- F5Total includes options from other tranches with different exercise prices, vesting dates and expiration dates.