FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Bronstein Glen M
2. Issuer Name and Ticker or Trading Symbol

NAVIGATORS GROUP INC [ NAVG ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
SVP, Chief Claims Officer
(Last)          (First)          (Middle)

C/O THE NAVIGATORS GROUP, INC., 400 ATLANTIC STREET, 8TH FLOOR
3. Date of Earliest Transaction (MM/DD/YYYY)

5/23/2019
(Street)

STAMFORD, CT 06901
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   (1) 5/23/2019     D    12361   D $70.00   (2) 0   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Performance Units     (3) 5/23/2019     D         7500      (4)   (4) Common Stock   7500     (4) 0   D    
Restricted Stock Units     (5) 5/23/2019     D         10669      (6) (7)   (6) (7) Common Stock   10669     (6) (7) 0   D    

Explanation of Responses:
(1)  On May 23, 2019, The Hartford Financial Services Group, Inc. ("The Hartford") acquired the Issuer pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of August 22, 2018, by and among the Issuer, The Hartford and Renato Acquisition Co., a wholly owned subsidiary of The Hartford (the "Merger").
(2)  Pursuant to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of common stock of the Issuer, par value $0.10 per share ("Issuer Common Stock") issued and outstanding immediately prior to the Effective Time was converted into the right to receive $70.00 in cash, without interest (the "Merger Consideration").
(3)  Each performance unit represents the right to receive one share of Issuer Common Stock.
(4)  The Merger Agreement provides that each performance unit award granted on or after January 1, 2017 and prior to January 1, 2019, that was granted under the Company Stock Plan (as defined in the Merger Agreement) and that was outstanding immediately prior to the Effective Time and is payable in shares of Issuer Common Stock (together, the "2020 Vesting Company Awards") was canceled and converted into the right to receive a cash payment equal to the product of (A) the Merger Consideration multiplied by (B) the target number of shares of Issuer Common Stock that were subject to the 2020 Vesting Company Awards immediately prior to the Effective Time; provided, that the right to a cash payment with respect to such award was subject to the same vesting and payment schedules as the 2020 Vesting Company Award it replaced (other than performance-based vesting conditions).
(5)  Each restricted stock unit represents the right to receive one share of Issuer Common Stock.
(6)  The Merger Agreement provides that each restricted stock unit award granted on or after January 1, 2019 that was outstanding immediately prior to the Effective Time and was payable in Issuer Common Stock (together, the "2019 New Company Awards"), was canceled and converted into the right to receive a number of restricted stock units issued pursuant to The Hartford 2014 Incentive Stock Plan (each, a "Hartford RSU") in respect of shares of common stock, par value $0.01 per share, of The Hartford ("Hartford Common Stock") equal to (A) the Merger Consideration multiplied by the number of restricted stock units in the applicable tranche, subject to the 2019 New Company Award immediately prior to the Effective Time, divided by (B) the closing price of a share of Hartford Common Stock on the New York Stock Exchange on the business day immediately prior to the closing of the Merger
(7)  Each Hartford RSU issued pursuant to Footnote 6 will be subject to the same vesting and payment schedules as the 2019 New Company Award it replaced (other than performance-based vesting conditions).

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Bronstein Glen M
C/O THE NAVIGATORS GROUP, INC.
400 ATLANTIC STREET, 8TH FLOOR
STAMFORD, CT 06901


SVP, Chief Claims Officer

Signatures
Deepa R. Nayini, attorney-in-fact 5/23/2019
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.
Navigators (NASDAQ:NAVG)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Navigators Charts.
Navigators (NASDAQ:NAVG)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Navigators Charts.