Global Indemnity plc (NASDAQ:GBLI)’ Chief Operating/Claims Officer and Global Indemnity Group William Devlin was awarded with 4,940 shares of Class A Ordinary Shares, at a price of $25.3 per share. Following this transaction, Mr. Devlin owns beneficially 27,174 securities. “The shares vest as follows, 50% of the shares vest pro ratably over three years on January 1, 2015, January 1, 2016 and January 1, 2017. 50% of the shares vest after a re-measurement of the 2013 GAAP accident year combined ratio, excluding corporate expenses, three years after the grant. The shares vest if the re-measured GAAP accident year combined ratio is not greater than the original 2013 GAAP accident year combined ratio,” (SEC).
Insider purchases at the company hadn’t been witnessed since Q3 2013, when Director Stephen Cozen acquired 3,900 shares, at a price of $25.92 per share. Sales, moreover, haven’t been registered for over two years at this $668.29 million Market Cap Company. Director Chad Leat sold, during Q4 2012 23,766 shares, at a Price of $22.06 per share.
Equity funds have felt bearish about this stock over the last reported quarter. In fact, Renaissance Technologies from Jim Simons lowered its stake at the company by 10%. It now owns 60,850 shares at Global Indemnity plc (NASDAQ:GBLI), worth $1.6 million.