Maiden Holdings, Ltd. — Director's Dealing 2014

Feb 20, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Maiden Holdings, Ltd. (MHLD)
CIK: 0001412100
Period of Report: 2014-02-18

Reporting Person: RASCHBAUM ARTURO MANUEL (PRESIDENT AND CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-18	Common Shares	M	86705	—	Acquired	220992	Direct
2014-02-18	Common Shares	M	49900	—	Acquired	270892	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-18	Restricted Share Units	$	A	70546	Acquired		Common Shares (70546.0)	Direct

Footnotes

F1: Acquisition of common shares resulting from the vesting of the restricted share units granted to Mr. Raschbaum in March 2012.

F2: Acquisition of common shares resulting from the vesting of one-third of the restricted share units granted to Mr. Raschbaum in February 2013.

F3: The restricted share units were issued pursuant to the Plan. Each restricted share unit represents a contingent right to receive one common share of the Registrant.

F4: The restricted share units shall be settled in common shares or, at the discretion of the Compensation Committee, an amount in cash equal to the fair market value of the shares, and have a three year vesting period (the units shall be settled no later than 2 1/2 months after the expiration of each of the three equal vesting periods of December 31, 2014, 2015 and 2016, respectively). The units are forfeited if the reporting person's employment is terminated prior to the settlement date. Certain special terms apply in the event of death, disability or a change of control.