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*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
HCC INSURANCE HOLDINGS INC/DE/ [ HCC ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 01/04/2010 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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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 | ||||||
Common Stock | 93,779 | D | ||||||||
Common Stock | 01/04/2010 | A | 35,474 | A | $0 | 129,253 | D | |||
Common Stock | 01/04/2010 | A | 106,421(1) | A | $0 | 235,674 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 | ||||||||
Option to Purchase(2) | $24.47 | (3) | 04/04/2013 | Common Stock | 37,500 | 37,500 | D | ||||||||
Option to Purchase(4) | $30.85 | 01/05/2007 | 01/05/2011 | Common Stock | 12,500 | 12,500 | D | ||||||||
Option to Purchase(4) | $33.56 | (5) | 03/23/2011 | Common Stock | 200,000 | 200,000 | D | ||||||||
Option to Purchase(4) | $31.92 | (6) | 05/09/2012 | Common Stock | 150,000 | 150,000 | D |
Explanation of Responses: |
1. The 106,421 shares granted to Mr. Molbeck are subject to forfeiture in whole or in part depending on the Company's growth rate performance in relation to the growth rate of certain peer group companies during the period beginning on January 4, 2010 and ending on May 31, 2013. During such period, Mr. Molbeck can vote the shares and receive any cash dividends without subsequent forfeiture. |
2. Option to purchase granted pursuant to the 2001 Flexible Incentive Plan. |
3. The options vest equally annually over a 5 year period beginning on April 4, 2006 at 7,500 shares per year. |
4. Option to purchase granted pursuant to the 2004 Flexible Incentive Plan. |
5. The options vest as follows: 66,666 on March 23, 2007; 66,666 on March 23, 2008; and 66,668 on March 23, 2009. |
6. The options vest equally annually over a 4 year period beginning December 31, 2007 at 37,500 shares per year. |
James L. Simmons as Attorney in Fact for John N. Molbeck, Jr. | 01/06/2010 | |
** 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |