SEC Form 4 · accession 0001127602-16-047138
PARTNERRE LTD · PRE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Outtrim
Officer — Chief Accounting Officer
Period of report
Mar 18, 2016
Accepted (ET)
Mar 22, 2016 · 3:41 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000911421
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF1 | Mar 18, 2016 | A | 470 | $0.00 | A | 11,054 | D | |
| Common SharesF2 | Mar 18, 2016 | A | 565 | $0.00 | A | 11,619 | D | |
| Common SharesF3 | Mar 18, 2016 | D | 11,619 | $137.50 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightsF4 | $63.44 | Mar 18, 2016 | D | 6,600 | D | Mar 1, 2013 | Feb 28, 2022 | Common Shares | 6,600 | 0 | D |
Explanation of responses
- F1Reflects performance adjustment to Performance Share Units granted on February 17, 2015. This award was previously reported on grant at target (940 shares) and settled at 150% (1,410 shares) on March 18, 2016.
- F2Reflects performance adjustment to Performance Share Units granted on February 28, 2014. This award was previously reported on grant at target (1,129 shares) and settled at 150% (1,694 shares) on March 18, 2016.
- F3Disposed of pursuant to the merger agreement between the issuer and EXOR in exchange for a cash payment of $1,597,613 on the effective date of the merger and pursuant to the requirement of Rule 16b-3 of the Exchange Act.
- F4These Share-Settled Share Appreciation Rights (SARs), which provided for a three year ratable vest, were cancelled as a result of the merger with EXOR in exchange for a cash payment of $488,796, representing the difference between the exercise price of the SAR and the merger consideration of $137.50 per share and pursuant to the requirement of Rule 16b-3 of the Exchange Act.