SEC Form 4: Roberts Sharon Elaine returned 1,000 units of Common Shares without Par Value to the company, closing all direct ownership in the company (for withholding tax)
$STFC
Property-Casualty Insurers
Finance
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
State Auto Financial CORP [ STFC ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 03/01/2022 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction 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 Shares without Par Value | 03/01/2022 | D | 1,000(1)(2) | D | (1)(2) | 0 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction 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 (Month/Day/Year) | 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: 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 | ||||||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 1,934(3)(4) | (3) | (3) | Comnmon Stock | 1,934 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 1,962(3)(4) | (3) | (3) | Comnmon Stock | 1,962 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 2,027(3)(4) | (3) | (3) | Comnmon Stock | 2,027 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 1,916(3)(4) | (3) | (3) | Comnmon Stock | 1,916 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 2,469(3)(4) | (3) | (3) | Comnmon Stock | 2,469 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 3,590(3)(4) | (3) | (3) | Comnmon Stock | 3,590 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 3,724(3)(4) | (3) | (3) | Comnmon Stock | 3,724 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 3,953(3)(4) | (3) | (3) | Comnmon Stock | 3,953 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 4,871(3)(4) | (3) | (3) | Comnmon Stock | 4,871 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 3,677(3)(4) | (3) | (3) | Comnmon Stock | 3,677 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 3,644(3)(4) | (3) | (3) | Comnmon Stock | 3,644 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 3,268(3)(4) | (3) | (3) | Comnmon Stock | 3,268 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 3,597(3)(4) | (3) | (3) | Comnmon Stock | 3,597 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 3,059(3)(4) | (3) | (3) | Comnmon Stock | 3,059 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 2,819(3)(4) | (3) | (3) | Comnmon Stock | 2,819 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 2,571(3)(4) | (3) | (3) | Comnmon Stock | 2,571 | (3) | 0 | D | ||||
| Restricted Stock Unit | (3) | 03/01/2022 | D | 4,144(3)(4) | (3) | (3) | Comnmon Stock | 4,144 | (3) | 0 | D | ||||
| Explanation of Responses: |
| 1. This Form 4 reports securities disposed of pursuant to the terms of the Agreement and Plan of Merger and Combination (the "Merger Agreement"), dated as of July 12, 2021, by and among State Auto Financial Corporation, an Ohio corporation ("STFC"), State Automobile Mutual Insurance Company, and Ohio mutual insurance company ("SAM"), Liberty Mutual Holding Company, Inc., a Massachusetts mutual holding company ("LMHC"), Pymatuning, Inc., and Ohio corporation and wholly-owned direct subsidiary of LMHC ("Merger Sub I"), and Andover, Inc., an Ohio corporation and wholly-owned direct subsidiary of LMHC, a copy of which was filed as Exhibit 2.1 to STFC's Form 8-K filed with the Securities and Exchange Commission on July 12, 2021. |
| 2. Pursuant to the Merger Agreement, On March 1, 2022, LMHC effected the acquisition of STFC through the merger of Merger Sub I with and into STFC (the "Merger") with STFC surviving the Merger as the surviving corporation and as an indirect wholly-owned subsidiary of LMHC. At the effective time of the Merger (the "Effective Time"), each issued and outstanding share of common stock of STFC (each, a "Share")(other than the SAM Owned Shares, the Cancelled Shares and the Dissenting Shares, as such terms are defined in the Merger Agreement) was cancelled and converted into the right to receive $52.00 in cash (the "Merger Consideration") without interest and subject to applicable withholding taxes. |
| 3. Pursuant to the Merger Agreement, effective upon the Effective Time, each STFC restircted stock unit (each, a "STFC RSU") that was outstanding immediately prior to the Effective Time, whether vested or unvested, became fully vested, in the case of a time-based vesting STFC RSU, or became vested at the target level of performance, in the case of a performance based vesting STFC RSU, and was automatically converted, to the extent vested after giving effect to this clause, into the right to receive a lump-sum amount in cash, without interest, equal to the product of (A) the Merger Consideration and (B) the number of Shares subject to such STFC RSU. |
| 4. Includes STFC RSUs previously granted under the STFC Outside Directors Restricted Share Unit Plan and STFC RSUs credited with dividends, equivalent in value to those declared and paid on one Share; 297.702 acquired on June 30, 2021; 103.684 acquired on September 30, 2021 and 103.018 acquired on December 31, 2021. |
| /s/S. Elaine Roberts by Melissa A. Centers, attorney in fact pursuant to a POA filed with the Commission 5-9-16. | 03/03/2022 | |
| ** 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 Number. | ||