SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Barnes Michael Gene

(Last) (First) (Middle)
C/O TRICADIA HOLDINGS, L.P.
780 THIRD AVENUE 29TH FLOOR

(Street)
NEW YORK NY 10017

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
TIPTREE FINANCIAL INC. [ TIPT ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Executive Chairman
3. Date of Earliest Transaction (Month/Day/Year)
03/10/2016
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 03/10/2016 A 4,568 A $0.00 50,247 I (1) By: Tricadia Holdings, L.P.
Class A Common Stock 03/11/2016 P (2) 619 A $5.93 3,421,492 D
Class A Common Stock 03/11/2016 P (2) 607 A $5.96 3,422,099 D
Class A Common Stock 03/11/2016 P (2) 416 A $5.95 3,422,515 D
Class A Common Stock 03/11/2016 P (2) 243 A $5.92 3,422,758 D
Class A Common Stock 03/11/2016 P (2) 110 A $5.99 3,422,868 D
Class A Common Stock 03/11/2016 P (2) 77 A $5.91 3,422,945 D
Class A Common Stock 03/11/2016 P (2) 35 A $5.87 3,422,980 D
Class A Common Stock 03/11/2016 P (2) 31 A $5.94 3,423,011 D
Class A Common Stock 03/11/2016 P (2) 27 A $5.9 3,423,038 D
Class A Common Stock 03/11/2016 P (2) 25 A $5.84 3,423,063 D
Class A Common Stock 03/14/2016 P (2) 2,000 A $5.91 3,425,063 D
Class A Common Stock 03/14/2016 P (2) 500 A $5.9 3,425,563 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (3) $5.87 03/10/2016 A 9,136 (4) (4) (5) Class A Common Stock 9,136 $0.00 100,495 I (1) By: Tricadia Holdings, L.P.
Explanation of Responses:
1. The reporting person is a principal of Tricadia Holdings, L.P. ("Tricadia"). The number of shares reflects a total which is greater than the Reporting Person's pecuniary interest. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.
2. Purchases pursuant to a Rule 10b5-1 trading plan.
3. On March 10, 2016, in consideration of Michael Barnes' services to the Registrant, Tricadia was granted stock options to purchase 9,136 shares of common stock of the Registrant subject to the terms of a Stock Option Agreement among the Registrant, Michael Barnes and Tricadia (the "Stock Option").
4. Exercise of the Stock Option is subject to both (1) a time-based vesting requirement with one-third vesting each of March 10, 2019, 2020 and 2021 and (2) a performance-based vesting requirement that, at any time during the option term, achievement of a 20-day volume weighted average stock price of Registrant's Class A Common Stock, that exceeds the book value per share as of December 31, 2015.
5. The Stock Option will expire on the earlier of (1) March 10, 2026 and (2) the date of the termination of Michael Barnes's service with the Registrant for Cause (as defined in the Stock Option Agreement) or Michael Barnes's voluntary termination of service with the Registrant.
Remarks:
/s/ Neil C. Rifkind, as Attorney-in-fact for Michael Barnes 03/15/2016
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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