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Filing Details

Accession Number:: 0001181580-13-000026
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2013-12-26 19:46:23
Reporting Period:: 2013-12-23

Filing Date:: 2013-12-26
Accepted Time:: 2013-12-26 19:46:23
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
819913	Hallmark Financial Services Inc	HALL	Insurance Carriers, Nec (6399)	870447375

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1285001	J Mark Morrison	777 Main Street Suite 1000 Fort Worth TX 76102	President; Ceo	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2013-12-23	2,500	$8.80	82,500	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	RESTRICTED STOCK UNITS	$0.00	2016-03-31	2016-03-31	0	34,052	Direct
Common Stock	RESTRICTED STOCK UNITS	$0.00	2015-03-31	2015-03-31	0	37,879	Direct
Common Stock	EMPLOYEE STOCK OPTION (RIGHT TO BUY)	$6.61		2019-04-01	75,000	75,000	Direct
Common Stock	EMPLOYEE STOCK OPTION (RIGHT TO BUY)	$11.46		2018-05-22	50,000	50,000	Direct
Common Stock	EMPLOYEE STOCK OPTION (RIGHT TO BUY)	$12.52		2017-05-24	100,000	100,000	Direct
Common Stock	EMPLOYEE STOCK OPTION (RIGHT TO BUY)	$11.34		2016-05-25	20,833	20,833	Direct
Common Stock	EMPLOYEE STOCK OPTION (RIGHT TO BUY)	$7.14		2015-05-27	16,667	16,667	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2016-03-31	0	34,052	Direct
2015-03-31	0	37,879	Direct
2019-04-01	75,000	75,000	Direct
2018-05-22	50,000	50,000	Direct
2017-05-24	100,000	100,000	Direct
2016-05-25	20,833	20,833	Direct
2015-05-27	16,667	16,667	Direct

Footnotes

Represents restricted stock units conditionally granted April 10, 2013 subject to shareholder approval, which was obtained May 30, 2013. Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria are based on the compound average annual growth rate ("CAGR") in book value per share from January 1, 2013 to December 31, 2015, and earn a percentage of a share of common stock per restricted stock unit, as follows: (i) CAGR less than 8% earns 0%; (ii) 8% CAGR earns 50%; (iii) 9% CAGR earns 64%; (iv) 10% CAGR earns 79%; (v) 11% CAGR earns 93%; (vi) 12% CAGR earns 107% shares; (vii) 13% CAGR earns 122%; (viii) 14% CAGR earns 136%; and (ix) 15% or greater CAGR earns 150%.
Represents restricted stock units conditionally granted July 27, 2012 subject to shareholder approval, which was obtained May 30, 2013. Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria are based on the compound average annual growth rate ("CAGR") in book value per share from January 1, 2012 to December 31, 2014, and earn a percentage of a share of common stock per restricted stock unit, as follows: (i) CAGR less than 8% earns 0%; (ii) 8% CAGR earns 50%; (iii) 9% CAGR earns 64%; (iv) 10% CAGR earns 79%; (v) 11% CAGR earns 93%; (vi) 12% CAGR earns 107% shares; (vii) 13% CAGR earns 122%; (viii) 14% CAGR earns 136%; and (ix) 15% or greater CAGR earns 150%.
Represents grant of employee stock options which become exercisable in seven equal annual installments commencing April 1, 2010.
Represents grant of employee stock options exercisable as to 5,000, 10,000, 15,000 and 20,000 shares on May 22, 2009, 2010, 2011 and 2012, respectively.
Represents grant of employee stock options exercisable as to 10,000, 20,000, 30,000 and 40,000 shares on May 24, 2008, 2009, 2010 and 2011, respectively.
Represents grant of employee stock options exercisable as to 2,083, 4,167, 6,250 and 8,333 shares on May 25, 2007, 2008, 2009 and 2010, respectively.
Represents grant of employee stock options exercisable as to 1,667, 3,333, 5,000 and 6,667 shares on May 27, 2006, 2007, 2008 and 2009, respectively.