RenaissanceRe (NYSE: RNR) EVP Marra forfeits shares and withholds stock for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
RenaissanceRe Holdings executive David E. Marra reported routine equity award adjustments and tax withholding related to performance-based restricted shares. He forfeited 652 shares of common stock back to the company after the performance period ended, reflecting shares that did not vest under the plan’s formulas.
In a separate transaction, 2,630 shares of common stock were withheld at a price of $297.22 per share to cover withholding taxes upon vesting of his March 1, 2023 performance-based restricted share award. Following these non-market dispositions, Marra directly holds 95,465 shares of RenaissanceRe common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Marra David E
Role
EVP,Chief Underwriting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 652 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,630 | $297.22 | $782K |
Holdings After Transaction:
Common Stock — 98,095 shares (Direct)
Footnotes (1)
- Represents the forfeiture of a portion of performance-based restricted shares granted to the reporting person on March 1, 2023 pursuant to the issuer's First Amended and Restated 2016 Long Term Incentive Plan, as amended. The award vested following the expiration of the performance period on December 31, 2025, subject to satisfaction of service- and performance-based conditions. The amount initially awarded represented the maximum achievable number of shares. The number of shares that ultimately vested was a function of the issuer's average growth in book value per common share plus accumulated dividends and average underwriting expense ratio as compared to peers during the three-year performance period, as determined by the Corporate Governance and Human Capital Management Committee. Shares that were no longer eligible to vest following the release of peer results and the Committee's determination of performance were forfeited. Shares withheld for payment of withholding taxes upon the vesting of performance-based restricted shares granted to the reporting person on March 1, 2023.
FAQ
What insider transactions did RNR executive David E. Marra report?
David E. Marra reported two non-market dispositions of RenaissanceRe common stock. He forfeited 652 performance-based restricted shares that did not vest and had 2,630 shares withheld to cover taxes upon vesting of a March 1, 2023 performance-based award.