0001194794-16-000194.txt : 20160526 0001194794-16-000194.hdr.sgml : 20160526 20160526160253 ACCESSION NUMBER: 0001194794-16-000194 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20160525 FILED AS OF DATE: 20160526 DATE AS OF CHANGE: 20160526 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: PROASSURANCE CORP CENTRAL INDEX KEY: 0001127703 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 631261433 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 100 BROOKWOOD PLACE CITY: BIRMINGHAM STATE: AL ZIP: 35209 BUSINESS PHONE: 2058774400 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Spinosa Frank Anthony CENTRAL INDEX KEY: 0001542653 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-16533 FILM NUMBER: 161678150 MAIL ADDRESS: STREET 1: PO BOX 72 CITY: SHELTER ISLAND STATE: NY ZIP: 11964 4 1 wf-form4_146429296013926.xml FORM 4 X0306 4 2016-05-25 0 0001127703 PROASSURANCE CORP PRA 0001542653 Spinosa Frank Anthony C/O PROASSURANCE CORPORATION 100 BROOKWOOD PLACE BIRMINGHAM AL 35209 1 0 0 0 Common Stock 2016-05-25 4 A 0 1091 51.29 A 6455 D Common Stock 2016-05-25 4 A 0 235 51.29 A 6690 D These shares are awarded under the ProAssurance Corporation Director Deferred Stock Compensation Plan and are exempt under Rule 16b-3. This grant was recommended by the Compensation Committee, which is composed entirely independent directors (as disclosed on page 20 of our 2016 Proxy Statement), and was approved by our Board of Directors at its meeting on May 25, 2016. This year, the recommended and approved stock compensation grant was for shares having a value not to exceed $56,000. The number of whole shares is determined using the closing price of a share of stock on the New York Stock Exchange (NYSE) on the day of the Board of Directors meeting following the Annual Meeting of Shareholders. The NYSE closing price on May 25, 2016 was $51.29, resulting in a distribution to each non-management director of 1,091 shares. Shares acquired from ProAssurance Corporation under its Director Deferred Stock Compensation Plan which are exempt under Rule 16b-3. The plan was amended in 2013 to provide that dividends accumulated on deferred stock will be invested in shares of our stock and paid solely in our shares of stock when the deferred stock is payable to the directors. Only whole shares are purchased and remaining cash remains in the non-management director's deferred account for future purchase. Any future purchases of this nature will be made yearly, on the date of the Annual Meeting of Shareholders, under the same terms and conditions set forth in this footnote. Frank B. O'Neil with Power of Attorney for the Reporting Person 2016-05-26