SEC Form 4 · accession 0001209191-16-103252

Chubb Ltd · CB

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Timothy Alan Boroughs

Officer — Executive Vice Chairman*

Period of report

Feb 25, 2016

Accepted (ET)

Feb 29, 2016 · 1:09 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 Shares^F1	Feb 25, 2016	A	6,389	$0.00	A	158,253	D
Common Shares^F2	Feb 25, 2016	A	10,612	$0.00	A	168,865	D
Common Shares^F3	Feb 25, 2016	A	10,612	$0.00	A	179,477	D
Common Shares	holding	—	—		—	3,335	I	By Family Foundation

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 Shares^F4,F5	$118.39	Feb 25, 2016	A	17,035	A	—	Feb 25, 2026	Common Shares	17,035	163,551	D

Explanation of responses

F1Restricted stock units ("RSU") awarded pursuant to the ACE Limited 2004 Long-Term Incentive Plan (the "Plan"). The RSU's vest 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. Upon vesting, one Common Share will be delivered for each vested RSU.
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.

Remarks

*& Chief Investment Officer, Chubb Limited