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PROASSURANCE CORP — Director's Dealing 2011
Jun 27, 2011
32066_dirs_2011-06-27_ca1069d7-7e7e-4a8f-a54f-598d82137b4c.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: PROASSURANCE CORP (PRA)
CIK: 0001127703
Period of Report: 2011-06-24
Reporting Person: ADAMO VICTOR T (Director, President)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2011-06-27 | Common Stock | S | 2763 | $69.85 | Disposed | 44835 | Direct |
| 2011-06-24 | Common Stock | S | 400 | $69.75 | Disposed | 47598 | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Restricted Share Units | $ | Common Stock (2500) | 2500 | Direct | |
| Employee Stock Option (Right to Buy) | $54.28 | 2018-09-01 | Common Stock (15000) | 15000 | Direct |
| Employee Stock Option (Right to Buy) | $51.48 | 2017-09-10 | Common Stock (15000) | 15000 | Direct |
| Employee Stock Option (Right to Buy) | $51.38 | 2016-09-11 | Common Stock (15000) | 15000 | Direct |
Footnotes
F1: Weighted average of sale prices, which ranged from $69.75/share to $69.90/share. The Reporting Person has provided to the issuer, and further undertakes to provide to the SEC staff or a security holder of the Issuer upon request, full information regarding the number of shares sold at each separate price.
F2: All shares sold at $69.75/share
F3: Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of ProAssurance Corporation common stock, issueable from the ProAssurance 2008 Equity Incentive Plan. The RSUs will vest if the reporting person remains continuously employed by ProAssurance or one of its subsidiaries until February 26, 2012 (three years from date of grant). Vesting will accelerate upon termination of employment as the result of (i) death; (ii) disability; or (iii) Good Reason, as defined in the reporting person's employment agreement with ProAssurance Corporation, or by action of the Compensation Committee of the ProAssurance Corporation Board of Directors. The RSUs will be settled in shares of ProAssurance Common Stock and in cash, with the cash portion being approximately equal to the federal, state, and local taxes.
F4: The options vest in five equal, yearly installments commencing on September 1, 2008
F5: The options vest in five equal, yearly installments commencing on September 10, 2007
F6: The options vest in five equal, yearly installments commencing on September 11, 2006