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Filing Details

Accession Number:: 0001144204-12-032249
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-05-29 17:41:19
Reporting Period:: 2012-05-29

Filing Date:: 2012-05-29
Accepted Time:: 2012-05-29 16:41:19
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1412100	Maiden Holdings Ltd.	MHLD	Fire, Marine & Casualty Insurance (6331)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1460634	Karen Schmitt	C/O Maiden Reinsurnace Company 6000 Midatlantic Drive Mount Laurel NJ 08054	See Remarks	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 Shares	Acquisiton	2012-05-29	5,000	$7.92	79,875	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	Expiration Date	Amount	Nature of Ownership
Common Shares	Options (right to buy)	$3.28	2018-11-12	9,375	Direct
Common Shares	Options (right to buy)	$4.45	2019-02-24	75,000	Direct
Common Shares	Options (right to buy)	$7.25	2020-03-04	50,000	Direct
Common Shares	Restricted Share Units	$0.00		78,186	Direct
Common Shares	Restricted Share Units	$0.00		82,846	Direct

Expiration Date	Amount	Nature of Ownership
2018-11-12	9,375	Direct
2019-02-24	75,000	Direct
2020-03-04	50,000	Direct
	78,186	Direct
	82,846	Direct

Footnotes

The Stock Options were granted pursuant to the Amended and Restated 2007 Share Incentive Plan (the "Plan") and will vest 25% on the one year anniversary of grant, and 6.25% each quarter thereafter.
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.
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 shall be settled shortly after the Committee certifies the attainment of performance goals (the "settlement date"), but in no event later than 2 1/2 months after the expiration of the performance period. 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.
The reporting person received restricted share units that shall vest based upon the achievement of performance criteria relating to return on equity, underwriting performance, revenue growth and operating expense during the performance period from January 1, 2011 to December 31, 2012. The recipient received a target award of 39,093 restricted share units, and 0 to 200% of such target award may vest depending upon the degree to which the performance targets are met. The 78,186 units reported represent 200% of the target award, which is the maximum number of units that may be earned.
The reporting person received restricted share units that shall vest based upon the achievement of performance criteria relating to return on equity, underwriting performance, revenue growth and operating expense during the performance period from January 1, 2012 to December 31, 2014. The recipient received a target award of 41,423 restricted share units, and 0 to 200% of such target award may vest depending upon the degree to which the performance targets are met. The 82,846 units reported represent 200% of the target award, which is the maximum number of units that may be earned.