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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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. | SEC 1474 (9-02) |
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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (Right to Buy) | $ 0 | 04/26/2005 | J | 10,000 | 04/26/2006 | 04/26/2015 | Common Stock | 10,000 | $ 23.74 | 25,000 | D (1) (2) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
CAPITAL Z FINANCIAL SERVICES FUND II LP 54 THOMPSON STREET NEW YORK, NY 10012 |
X |
/s/ Linda Clauser as Power of Attorney for Capital Z Financial Services Fund II LP | 05/16/2005 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | Under the terms of the PXRE Group Ltd. Director Stock Plan (the "Plan"), members of the Board of Directors of PXRE Group, Ltd. are automatically entitled to receive annually a grant of 2,500 restricted common shares of PXRE Group, Ltd. Section 9.2 of the Plan permits certain directors to cause such restricted common shares to be granted directly to their employers (or to affiliates of their employers) subject to the same terms and conditions under the Plan as would apply if the director had retained such restricted common shares personally. The Reporting Person is the employer of Bradley Cooper and Jonathan Kelly, the Capital Z designees to the PXRE Group Ltd. Board of Directors. |
(2) | Restricted Common Shares and Stock Options are actually being issued to Capital Z Management, LLC, the investment manager of Capital Z Financial Services Fund II. |