RenaissanceRe EVP records award forfeiture, tax withholding
RenaissanceRe Holdings executive David E. Marra reported routine equity award adjustments and tax withholding related to performance-based restricted shares.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
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.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 652 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 2,630 | $297.22 | $782K |
Footnotes (2)
- F1. 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.
- F2. 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
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did RNR executive David E. Marra report?
AI-generated analysis. How Rhea-AI works. Not financial advice.