X0306 4 2014-02-28 0000911421 PARTNERRE LTD PRE 0001453094 Walker Theodore C PARTNER REINSURANCE COMPANY OF THE U.S. ONE GREENWICH PLAZA GREENWICH CT 06830-6352 1 President & CEO, PartnerRe NA Common Shares 2014-02-28 4 A 0 5562 0 A 26633 D Common Shares 2014-02-28 4 A 0 5562 0 A 32195 D Stock Appreciation Rights 98.88 2014-02-28 4 A 0 19468 98.88 A 2015-02-28 2024-02-28 Common Shares 19468 19468 D Restricted Share Units granted as a long-term incentive award will vest 100% on the 3rd anniverary of the date of Grant. Performance Share Units granted as a long-term incentive award will vest 100% on the third anniversary of the date of grant. Vesting of these shares is subject to the satisfactory achievement of both service and performance-based vesting conditions. The amount of 5,562 reported as granted represents the "target" equity award assuming target performance of 100%. The maximum equity award value is 150% of the "target" value which is equivalent to 8,343 shares and the minimum equity award value is 50% of the "target" value which is equivalent to 2,781 shares. The performance metric is the change in Tangible Book Value per Share over a three-year period. Share-Settled Share Appreciation Rights (SARs) will vest 33% on the first and second anniversary of the date of grant and 34% on the third anniversary of the date of grant and will be settled in shares. Marc Wetherhill as Attorney-in-Fact for Theodore C Walker 2014-03-04