1347 PROPERTY INSURANCE HOLDINGS, INC. (NASDAQ:PIH) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02 Unregistered Sales of Equity Securities.
The disclosure in Item 5.02 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 15, 2018, the Compensation Committee of the Board of Directors (the “Board”) of 1347 Property Insurance Holdings, Inc. (the “Company”) granted 136,054 restricted stock units (“RSUs”) to Daniel E. Case to the share matching program approved in connection with his appointment as the Company’s Chief Operating Officer, as an inducement material to Mr. Case’s acceptance of employment with the Company. to Mr. Case’s Executive Restricted Stock Unit Agreement Under Share-Matching Program (the “Agreement”), each RSU entitles Mr. Case to one share of the Company’s common stock upon the vesting of the RSU. RSUs vest 20% per year over a period of five years following the grant date, subject to Mr. Case’s continued employment with the Company, with the shares of the Company’s common stock to be issued upon the vesting of the RSUs to an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended. The description of the Agreement is a summary only and is qualified in its entirely by reference to the full text of the Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
1347 Property Insurance Holdings, Inc. ExhibitEX-10.1 2 ex10-1.htm Exhibit 10.1 Executive Restricted Stock Unit Agreement Under Share-Matching Program NEITHER THE SECURITIES NOR THE SECURITIES ISSUABLE PURSUANT TO THIS AGREEMENT HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933,…To view the full exhibit click
About 1347 PROPERTY INSURANCE HOLDINGS, INC. (NASDAQ:PIH)
1347 Property Insurance Holdings, Inc. is a holding company. The Company, through its subsidiaries, is engaged providing property and casualty insurance. The Company offers homeowners’ insurance, manufactured home insurance and dwelling fire insurance. It writes both full peril property policies, as well as wind/hail only exposures and it distributes policies through independent insurance agents. Maison Managers, Inc. (MMI) serves as the Company’s management services subsidiary. Its other subsidiaries include Maison Insurance Company (Maison), a property and casualty insurance company, and ClaimCor, LLC (ClaimCor), a claims adjusting company. Its homeowners’ insurance policy is written on an owner occupied dwelling, which protects from all perils, except for those specifically excluded from coverage by the policy. Its wind/hail insurance policy is written on an owner or non-owner occupied dwelling, which protects from the perils of wind and/or hail-only weather events.