ASIC (ASIC) officer Schenk vests 21,981-share stock option at $10.66
Rhea-AI Filing Summary
Ategrity Specialty Insurance Co Holdings reported that officer Chris Schenk acquired a stock option award linked to 21,981 shares of common stock. The option has an exercise price of $10.66 per share and expires on January 1, 2032, with all 21,981 option shares held directly after this transaction.
According to the accompanying note, this vesting relates to a larger option originally granted on January 1, 2022 for 43,963 shares, of which 50% could vest based on performance over the 2024 and 2025 fiscal years. The company states those performance criteria were met, leading to vesting of 21,981 shares under the award.
Positive
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 21,981 | $0.00 | -- |
Footnotes (1)
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Key Figures
Key Terms
Stock Option (right to buy) financial
Grant, award, or other acquisition financial
performance criteria financial
vesting financial
FAQ
What insider transaction did ASIC report for Chris Schenk on this Form 4?
ASIC reported that officer Chris Schenk acquired a stock option covering 21,981 shares of common stock. This is a compensation-related award rather than an open-market trade, and all 21,981 option shares are reported as held directly after the transaction.
What are the key terms of Chris Schenk’s ASIC stock option award?
The option reported for Chris Schenk covers 21,981 shares of ASIC common stock at an exercise price of $10.66 per share. It became exercisable in connection with performance vesting and carries an expiration date of January 1, 2032.
What performance conditions affected Chris Schenk’s ASIC option vesting?
The company states that 50% of the 2022 option could vest if certain performance criteria were met for the two fiscal years before vesting. ASIC reports that the criteria for 2024 and 2025 were satisfied, triggering vesting for 21,981 shares.
Is Chris Schenk’s ASIC Form 4 transaction a stock purchase or compensation grant?
The Form 4 classifies the event as a grant, award, or other acquisition of a derivative security, not an open-market purchase. It reflects performance-based vesting of an existing stock option, a common form of executive compensation, rather than a cash stock purchase.