Filing Details

Accession Number:
0001181580-15-000011
Form Type:
4
Zero Holdings:
No
Publication Time:
2015-04-09 10:18:57
Reporting Period:
2015-04-07
Filing Date:
2015-04-09
Accepted Time:
2015-04-09 10:18:57
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
1321683 R Jeffrey Passmore 777 Main Street
Suite 1000
Fort Worth TX 76102
Chief Accounting Officer No Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2015-04-07 8,333 $7.14 8,333 No 4 M Direct
Common Stock Disposition 2015-04-07 5,351 $10.75 2,982 No 4 S Direct
Common Stock Disposition 2015-04-08 982 $10.67 2,000 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M Direct
No 4 S Direct
No 4 S Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock STOCK OPTIONS (RIGHT TO BUY) Disposition 2015-04-07 8,333 $0.00 8,333 $7.14
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
0 2015-05-27 No 4 M Direct
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock RESTRICTED STOCK UNITS $0.00 2017-03-31 2017-03-31 0 6,884 Direct
Common Stock RESTRICTED STOCK UNITS $0.00 2016-03-31 2016-03-31 0 7,389 Direct
Common Stock STOCK OPTIONS (RIGHT TO BUY) $6.61 2019-04-01 35,000 35,000 Direct
Common Stock STOCK OPTIONS (RIGHT TO BUY) $11.46 2018-05-22 25,000 25,000 Direct
Common Stock STOCK OPTIONS (RIGHT TO BUY) $12.52 2017-05-24 50,000 50,000 Direct
Common Stock STOCK OPTIONS (RIGHT TO BUY) $11.34 2016-05-25 8,333 8,333 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2017-03-31 0 6,884 Direct
2016-03-31 0 7,389 Direct
2019-04-01 35,000 35,000 Direct
2018-05-22 25,000 25,000 Direct
2017-05-24 50,000 50,000 Direct
2016-05-25 8,333 8,333 Direct
Footnotes
  1. Represents the weighted average purchase price of transactions effected at prices ranging from $10.70 per share to $10.82 per share. Upon written request by the SEC, the Issuer or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
  2. Represents the weighted average purchase price of transactions effected at prices ranging from $10.61 per share to $10.70 per share. Upon written request by the SEC, the Issuer or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
  3. 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, 2014 to December 31, 2016, 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%.
  4. 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%.
  5. Represents employee stock options exercisable in seven equal annual installments commencing April 1, 2010.
  6. Represents employee stock options exercisable as to 2,500, 5,000, 7,500 and 10,000 shares on May 22, 2009, 2010, 2011 and 2012, respectively.
  7. Represents employee stock options exercisable as to 5,000, 10,000, 15,000 and 20,000 shares on May 24, 2008, 2009, 2010 and 2011, respectively.
  8. Represents employee stock options exercisable as to 833, 1,667, 2,500 and 3,333 shares on May 25, 2007, 2008, 2009 and 2010, respectively.
  9. Represents employee stock options exercisable as to 833, 1,667, 2,500 and 3,333 shares on May 27, 2006, 2007, 2008 and 2009, respectively.