0001181580-19-000009.txt : 20190917
0001181580-19-000009.hdr.sgml : 20190917
20190917164214
ACCESSION NUMBER: 0001181580-19-000009
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20190916
FILED AS OF DATE: 20190917
DATE AS OF CHANGE: 20190917
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Passmore Jeffrey R
CENTRAL INDEX KEY: 0001321683
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-11252
FILM NUMBER: 191097502
MAIL ADDRESS:
STREET 1: 777 MAIN STREET
STREET 2: SUITE 1000
CITY: FORT WORTH
STATE: TX
ZIP: 76102
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: HALLMARK FINANCIAL SERVICES INC
CENTRAL INDEX KEY: 0000819913
STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE CARRIERS, NEC [6399]
IRS NUMBER: 870447375
STATE OF INCORPORATION: NV
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 777 MAIN STREET, SUITE 1000
CITY: FORT WORTH
STATE: TX
ZIP: 76102
BUSINESS PHONE: 8173481600
MAIL ADDRESS:
STREET 1: 5420 LYNDON B. JOHNSON FREEWAY
STREET 2: STE 1100
CITY: DALLAS
STATE: TX
ZIP: 75240
FORMER COMPANY:
FORMER CONFORMED NAME: ACOI INC
DATE OF NAME CHANGE: 19920703
FORMER COMPANY:
FORMER CONFORMED NAME: AMERICAN CREDIT OPTICAL INC /DE/
DATE OF NAME CHANGE: 19910611
FORMER COMPANY:
FORMER CONFORMED NAME: PYRAMID GROWTH INC
DATE OF NAME CHANGE: 19890124
4
1
edgar.xml
PRIMARY DOCUMENT
X0306
4
2019-09-16
0000819913
HALLMARK FINANCIAL SERVICES INC
HALL
0001321683
Passmore Jeffrey R
5420 LYNDON B JOHNSON FREEWAY
SUITE 1100
DALLAS
TX
75240
0
1
0
0
Chief Financial Officer
COMMON STOCK
7000
D
RESTRICTED STOCK UNITS
2019-09-16
4
A
0
4970
0
A
2022-03-31
2022-03-31
COMMON STOCK
4970
D
RESTRICTED STOCK UNITS
2021-03-31
2021-03-31
COMMON STOCK
8066
D
RESTRICTED STOCK UNITS
2020-03-31
2020-03-31
COMMON STOCK
8596
D
Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria for one-half of the restricted stock units is based on the compound average annual growth rate ("CAAGR") in book value per share from January 1, 2019 to December 31, 2021, and earns a percentage of a share of common stock per restricted stock unit, as follows: (i) CAAGR less than 7% earns 0%; (ii) 7% CAAGR earns 50%; (iii) 8% CAAGR earns 75%; (iv) 9% CAAGR earns 100%; (v) 10% CAAGR earns 117%; (vi) 11% CAAGR earns 133% shares; and (vii) 12% or greater CAAGR earns 150%.
Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria for one-half of the restricted stock units is based on the consolidated net combined ratio ("CR%") for the period from from January 1, 2019 to December 31, 2021, and earns a percentage of a share of common stock per restricted stock unit, as follows: (a) CR% greater than 98% earns 0%; (b) 97% CR% earns 50%; (c) 96% CR% earns 75%; (d) 95% CR% earns 100%; (e) 94% CR% earns 110%; (f) 93% CR% earns 120%; (g) 92% CR% earns 130%; (h) 91% CR% earns 140%; and (i) less than 90% CR% earns 150%.
Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria for one-half of the restricted stock units are based on the compound average annual growth rate ("CAAGR") in book value per share from January 1, 2018 to December 31, 2020, and earn a percentage of a share of common stock per restricted stock unit, as follows: (i) CAAGR less than 7% earns 0%; (ii) 7% CAAGR earns 50%; (iii) 8% CAAGR earns 75%; (iv) 9% CAAGR earns 100%; (v) 10% CAAGR earns 117%; (vi) 11% CAAGR earns 133% shares; and (vii) 12% or greater CAAGR earns 150%.
Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria for one-half of the restricted stock units are based on the net combined ratio ("NCR") for the three year period from January 1, 2018 to December 31, 2020, and earn a percentage of a share of common stock per restricted stock unit, as follows: (a) NCR greater than 98% earns 0%; (b) NCR of 97% earns 50%; (c) NCR of 96% earns 75%; (d) NCR of 95% earns 100%; (e) NCR of 94% earns 110%; (f) NCR of 93% earns 120%; (g) NCR of 92% earns 130%; (h) NCR of 91% earns 140%; and (i) NCR less than 90% earns 150%.
Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria for one-half of the restricted stock units is based on the compound average annual growth rate ("CAAGR") in book value per share from January 1, 2017 to December 31, 2019, and earns a percentage of a share of common stock per restricted stock unit, as follows: (i) CAAGR less than 7% earns 0%; (ii) 7% CAAGR earns 50%; (iii) 8% CAAGR earns 67%; (iv) 9% CAAGR earns 83%; (v) 10% CAAGR earns 100%; (vi) 11% CAAGR earns 117% shares; (vii) 12% CAAGR earns 133%; and (viii) 13% or greater CAAGR earns 150%.
Each restricted stock unit represents the right to receive shares of common stock upon satisfaction of vesting requirements and performance criteria. The performance criteria for one-half of the restricted stock units is based on the consolidated net combined ratio ("CR%") for the period from from January 1, 2017 to December 31, 2019, and earns a percentage of a share of common stock per restricted stock unit, as follows: (a) CR% greater than 96% earns 0%; (b) 95% CR% earns 50%; (c) 94% CR% earns 60%; (d) 93% CR% earns 80%; (e) 92% CR% earns 100%; (f) 90% CR% earns 110%; (g) 89% CR% earns 120%; (h) 88% CR% earns 135%; and (i) less than 87% CR% earns 150%.
STEVEN D. DAVIDSON AS ATTORNEY-IN-FACT FOR JEFFREY R. PASSMORE
2019-09-17