FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
|
|||||||||||||||
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)
|
2. Issuer Name and Ticker or Trading Symbol
PLATINUM UNDERWRITERS HOLDINGS LTD [ PTP ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|
||||||||||||||||||||||||
3. Date of Earliest Transaction
(Month/Day/Year) 02/21/2011 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
|
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
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) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Shares | 02/21/2011 | M | 601 | A | $0.00 | 5,649 | D | |||
Common Shares | 02/21/2011 | M | 553 | A | $0.00 | 6,202 | D | |||
Common Shares | 02/22/2011 | M | 678 | A | $0.00 | 6,880 | D | |||
Common Shares | 02/23/2011 | M | 873 | A | $0.00 | 7,753 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Share units | (1) | 02/21/2011 | M | 601 | (2) | (2) | Common Shares(2) | 601 | $0.00 | 0 | D | ||||
Share units | (1) | 02/21/2011 | M | 553 | (3) | (3) | Common Shares(3) | 553 | $0.00 | 553 | D | ||||
Share units | (1) | 02/22/2011 | M | 678 | (4) | (4) | Common Shares(4) | 678 | $0.00 | 2,033 | D | ||||
Share units | (1) | 02/23/2011 | M | 873 | (5) | (5) | Common Shares(5) | 873 | $0.00 | 1,745 | D |
Explanation of Responses: |
1. 1-for-1 |
2. These share units were awarded on May 30, 2007 under the 2006 Share Incentive Plan of Platinum Underwriters Holdings, Ltd. (the "Company"). On February 21, 2011, the remaining 50% of these share units vested and the Company issued to the reporting person one Common Share for each vested share unit. |
3. These share units were awarded on February 21, 2008 under the 2006 Share Incentive Plan. On February 21, 2011, 50% of these share units vested and the Company issued to the reporting person one Common Share for each vested share unit. On February 21, 2012, the Company will issue to the reporting person one Common Share for each of the remaining 50% of the share units awarded to the reporting person. |
4. These share units were granted on February 22, 2010 under the 2006 Share Incentive Plan. On February 22, 2011, the first quarter of these share units vested and the Company issued to the reporting person one Common Share for each vested share unit. The remaining share units will vest ratably on the second, third and fourth anniversaries of the date of grant and on these vesting dates the Company will issue to the reporting person one Common Share for each vested share unit. |
5. These share units were granted on February 23, 2009 under the 2006 Share Incentive Plan. On February 23, 2011, the second quarter of these share units vested and the Company issued to the reporting person one Common Share for each vested share unit. The remaining shares will vest ratably on the third and fourth anniversaries of the date of grant and on these vesting dates the Company will issue to the reporting person one Common Share for each vested share unit. |
Remarks: |
/s/ Michael E. Lombardozzi, Attorney-in-Fact | 02/23/2011 | |
** 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. |