0001144204-11-045419.txt : 20110810
0001144204-11-045419.hdr.sgml : 20110810
20110810201718
ACCESSION NUMBER: 0001144204-11-045419
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20110801
FILED AS OF DATE: 20110810
DATE AS OF CHANGE: 20110810
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: MARSHALECK JOHN
CENTRAL INDEX KEY: 0001460245
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-34042
FILM NUMBER: 111025711
MAIL ADDRESS:
STREET 1: 48 PAR LA VILLE ROAD
STREET 2: SUITE 1141
CITY: HAMILTON
STATE: D0
ZIP: HM11
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Maiden Holdings, Ltd.
CENTRAL INDEX KEY: 0001412100
STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331]
IRS NUMBER: 000000000
STATE OF INCORPORATION: D0
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 7 REID STREET
CITY: HAMILTON HM 12
STATE: D0
ZIP: -
BUSINESS PHONE: (441) 295-5225
MAIL ADDRESS:
STREET 1: 7 REID STREET
CITY: HAMILTON HM 12
STATE: D0
ZIP: -
4
1
v231551_4.xml
OWNERSHIP DOCUMENT
X0304
4
2011-08-01
0
0001412100
Maiden Holdings, Ltd.
MHLD
0001460245
MARSHALECK JOHN
C/O MAIDEN HOLDINGS LTD.
131 FRONT STREET, 2ND FLOOR
HAMILTON
D0
HM12
BERMUDA
0
1
0
0
CHIEF FINANCIAL OFFICER
Common Shares
2011-08-08
4
P
0
2000
8.26
A
40000
D
Options (right to buy)
3.28
2018-11-12
Common Shares
25000
0
D
Options (right to buy)
4.45
2019-02-24
Common Shares
75000
0
D
Options (right to buy)
7.25
2020-03-04
Common Shares
50000
0
D
Restricted Share Units
2011-08-01
4
A
0
97868
0
A
Common Shares
97868
97868
D
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. The Plan was amended in July 2011 to allow for restricted share unit grants. Each restricted share unit represents a contingent right to receive one common share of the Registrant.
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 48,934 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 97,868 units reported represent 200% of the target award, which is the maximum number of units that may be earned.
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 December 31, 2012. 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.
/s/ John Marshaleck
2011-08-09