4 1 kramer.txt | OMB APPROVAL | | | | OMB Number: 3235-0287 | | Expires: January 31, 2005 | | Estimated average burden | FORM 4 | hours per response......0.5 | U.S. SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 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). (Print or Type Responses) ------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* KRAMER Donald ------------------------------------------------------------------------------- (Last) (First) (Middle) c/o ACE Limited The ACE Building, 17 Woodbourne Avenue ------------------------------------------------------------------------------- (Street) Hamilton HM 08 BERMUDA ------------------------------------------------------------------------------- (City) (State) (Zip) ------------------------------------------------------------------------------- 2. Issuer Name and Ticker or Trading Symbol ACE Limited (NYSE: ACE) ------------------------------------------------------------------------------- 3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary) ------------------------------------------------------------------------------- 4. Statement for Month/Day/Year November 12 and 18, 2002 ------------------------------------------------------------------------------- 5. If Amendment, Date of Original (Month/Day/Year) ------------------------------------------------------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [X] Director [_] 10% Owner [X] Officer (give title below) [_] Other (specify title below) Vice Chairman ---------------------------------------- ------------------------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check Applicable Line) [X] Form filed by One Reporting Person [_] Form filed by More than One Reporting Person -------------------------------------------------------------------------------
=================================================================================================================================== Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned =================================================================================================================================== 5. Amount of 6. 4. Securities Owner- 2A. 3. Securities Acquired (A) Beneficially ship 2. Deemed Trans- or Disposed of (D) Owned Form: 7. Trans- Execution action (Instr. 3, 4 and 5) Following Direct Nature of action Date, Code ------------------------ Reported (D) or Indirect 1. Date if any (Instr. 8) (A) Transaction(s) Indirect Beneficial Title of Security (Month/ (Month/ ---------- or (Instr. 3 (I) Ownership (Instr. 3) Day/Year) Day/Year) Code V Amount (D) Price and 4) (Instr.4) (Instr. 4) ----------------------------------------------------------------------------------------------------------------------------------- Ordinary Shares 2/28/2002 A(1) V 11,000 A (1) ----------------------------------------------------------------------------------------------------------------------------------- Ordinary Shares 11/12/2002 F 901 D $30.83 ----------------------------------------------------------------------------------------------------------------------------------- Ordinary Shares 11/18/2002 F 1,013 D $31.81 164,534 D ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- =================================================================================================================================== 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). 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 control number (Over) SEC 1474 (9-02)
FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ==================================================================================================================================== 9. 10. Number Owner- of ship deriv- Form 2. ative of Conver- 5. 7. Secur- Deriv- 11. sion Number of Title and Amount ities ative Nature or 3A. Derivative 6. of Underlying 8. Bene- Secur- of Exer- Deemed 4. Securities Date Securities Price ficially ity In- cise 3. Execu- Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Owned Direct direct Price Trans- tion action or Disposed Expiration Date ---------------- Deriv- Following (D) or Bene- 1. of action Date, Code of (D) (Month/Day/Year) Amount ative Reported In- ficial Title of Deriv- Date if any (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner- Derivative ative (Month/ (Month/ 8) 4 and 5) Date Expira- Number ity action(s) (I) ship Security Secur- Day/ Day/ ------- ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) ------------------------------------------------------------------------------------------------------------------------------------ Options 2/28 Ordinary to Acquire $43.90 /2002 A(2) V 40,000 (2) 2/28/2012 Shares 40,000 (2) 1,276,230 D ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ ==================================================================================================================================== Explanation of Responses: (1) Restricted stock award pursuant to ACE Limited 1998 Long-Term Incentive Plan. Stock vests as follows: 1/4 on the first anniversary of the date of the award, 1/4 on the second anniversary of the date of the award, 1/4 on the third anniversary of the date of the award and 1/4 on the fourth anniversary of the date of the award. (2) Option award pursuant to ACE Limited 1998 Long-Term Incentive Plan. Options vest as follows: 1/3 on the first anniversary of the date of the award, 1/3 on the second anniversary of the award, and 1/3 on the third anniversary of the date of the award.
Signed for Donald Kramer pursuant to a power of attorney on file with the Securities and Exchange Commission By: /s/ Keith White November 20, 2002 ------------------------------------------- -------------------------- **Signature of Reporting Person Date ** 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. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. Page 2