Flagstone Reinsurance Holdings, S.A. 4

4 · Flagstone Reinsurance Holdings, S.A. · Filed Mar 1, 2012

Form 4

Period: 2012-02-27

Director

Transactions

Award
Restricted Share Units
2012-02-27+5,186→ 12,011 total
Exercise: $0.00From: 2012-02-27→ Common Shares (5,186 underlying)
Other
Restricted Shares Units
2011-12-31−34,426→ 0 total(indirect: By Marathon Special Opportunity Fund)
Exercise: $0.00→ Common Shares (34,426 underlying)

Footnotes (4)

[F1]Each Restricted Share Unit ("RSU") represents the right to receive, without payment to the Company, one newly issued, fully paid and non-assessable common share of the Company, subject to the terms and conditions of the RSU Plan and grant certificate evidencing each grant. In the discretion of the Compensation Committee, upon exercise, the RSU grant may alternatively be paid in cash, or partly in cash and partly in common shares.
[F2]The RSUs vest 100% on the date of the grant.
[F3]The RSUs have no expiry date.
[F4]The reporting person was formerly an employee of Marathon Asset Management, LP (the "Investment Manager"), which serves as the investment manager of Marathon Special Opportunity Master Fund, Ltd. and Marathon Special Opportunity Liquidating Fund, Ltd. (together, the "Funds"). Securities of the Company that are held by the Funds are subject to the sole voting and investment authority of the Investment Manager, and the reporting person has at all times disclaimed beneficial ownership of any securities of the Company held by the Funds except to the extent of his pecuniary interest, if any, therein. As of the transaction date, the reporting person is no longer an employee of the Investment Manager.

Documents

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