4: Statement of changes in beneficial ownership of securities
Published on February 20, 2015
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIPFiled 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
RENAISSANCERE HOLDINGS LTD [ RNR ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 02/18/2015 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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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) | |||
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| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 02/18/2015 | D(1) | 3,745 | D | $103.44 | 68,912 | D | |||
| Common Stock | 02/18/2015 | D(2) | 3,068 | D | $103.44 | 65,844 | D | |||
| Common Stock | 02/18/2015 | D(3) | 2,825 | D | $103.44 | 63,019 | D | |||
| 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) | ||||
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Explanation of Responses: |
| 1. Represents cancellation of all of the shares originally comprising the third tranche of the March 1, 2012 grant as a result of the Issuer's Total Shareholder Return ("TSR") for the calendar year 2014 performance period relative to the members of a predetermined peer group reflecting the Committee's determinations of the performance criteria for that tranche. See remarks for additional detail. |
| 2. Represents cancellation of all of the shares originally comprising the second tranche of the March 1, 2013 grant as a result of the Issuer's TSR for the calendar-year 2014 performance period relative to the members of a predetermined peer group reflecting the Committee's determination of the performance criteria for that tranche. See remarks for additional detail. |
| 3. Represents cancellation of all of the shares originally comprising the first tranche of the March 3, 2014 grant as a result of the Issuer's TSR for the calendar-year 2014 performance period relative to the members of a predetermined peer group reflecting the Committee's determination of the performance criteria for that tranche. See remarks for additional detail. |
| Remarks: |
| On March 1, 2012, March 1, 2013, and March 3, 2014, the Reporting Person was granted performance-based restricted Common Shares of the Issuer ("Performance Shares") pursuant to the Issuer's 2010 Performance based Equity Incentive Plan, as amended (the "Plan"), subject to vesting upon the satisfaction of both time based service and performance-based vesting conditions. The number of Performance Shares initially granted to the Reporting Person represented the maximum number of Common Shares which could have vested to the Reporting Person upon the attainment of maximum performance criteria. As the minimum performance conditions were not met for the 2014 calendar year, each tranche of performance-based restricted Common Shares relating to this period are no longer eligible to be earned. Pursuant to the terms of the Plan, performance-based restricted Common Shares that are no longer eligible to be earned following the completion of an applicable time based service condition, as a result of the maximum performance conditions not being achieved, are cancelled at the time it is determined that the performance condition is not achieved. This Form reports (i) the cancellation in full of the third tranche of the 2012 grant as a result of the minimum performance not being achieved in respect of 2014, (ii) the cancellation in full of the second tranche of the 2013 grant as a result of the minimum performance not being achieved in respect of 2014 and (iii) the cancellation in full of the first tranche of the 2014 grant as a result of the minimum performance not being achieved in respect of 2014. |
| /S/ Stephen H. Weinstein, Attorney-in-Fact | 02/20/2015 | |
| ** 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.