Traimond Frederic 4

4 · Flagstone Reinsurance Holdings Ltd · Filed Sep 21, 2009

Form 4

Period: 2009-09-17

Chief Operating Officer

Transactions

Award
Performance Share Units
2009-02-26+14,307→ 14,307 total
Exercise: $0.00From: 2012-01-01Exp: 2012-03-31→ Common Shares (14,307 underlying)
Award
Performance Share Units
2009-09-17+12,000→ 12,000 total
Exercise: $0.00From: 2012-01-01Exp: 2012-03-31→ Common Shares (12,000 underlying)
Award
Common Shares
2009-02-26+8,000→ 8,000 total
Award
Performance Share Units
2009-02-26+14,307→ 14,307 total
Exercise: $0.00From: 2011-01-01Exp: 2011-03-31→ Common Shares (14,307 underlying)
Award
Performance Share Units
2009-02-26+50,000→ 50,000 total
Exercise: $0.00From: 2012-01-01Exp: 2012-03-31→ Common Shares (50,000 underlying)

Footnotes (3)

[F1]These Performance Share Units ("PSUs") would vest, subject to the contingency described in note 4 below and the other terms and conditions of the issuer's PSU Plan, on the date shown.
[F2]Assumes the issuer will settle these PSUs within three months of the vesting date.
[F3]Represents the mid-point of the vesting range for these PSUs. Vesting of PSUs is contingent upon the reporting person's continued employment with Flagstone Reinsurance Holdings Limited (the "Company") and the Company meeting certain fully diluted return-on-equity ("FDROE") goals. Upon vesting, the PSU holder is entitled to receive a number of common shares of the Company (or the cash equivalent, at the election of the Company) equal to the product of the number of PSUs granted multiplied by a factor based on the Company's FDROE during the vesting period. The factor with respect to the current PSUs granted will range between 0.5 and 1.5, depending on the FDROE achieved during the vesting period.

Documents

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