UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
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. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Calls (Right to buy) (1) | 11/07/2003 | 11/07/2008 | Common Stock | 150,000 (1) | $ 40 | D | Â |
Calls (Right to buy) (1) | 05/11/2005 | 05/11/2009 | Common Stock | 50,000 (1) | $ 40.59 | D | Â |
Calls (Right to buy) (1) | 09/30/2004 | 09/30/2008 | Common Stock | 50,000 (1) | $ 42.61 | D | Â |
Puts (Right to sell) (1) | 11/07/2003 | 11/07/2008 | Common Stock | 150,000 | $ 25 | D | Â |
Puts (Right to sell) (1) | 09/30/2004 | 09/30/2008 | Common Stock | 50,000 | $ 29.82 | D | Â |
Puts (Right to sell) (1) | 05/11/2005 | 05/11/2009 | Common Stock | 50,000 | $ 30.78 | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Abramson Robert P HILB ROGAL & HOBBS COMPANY 4951 LAKE BROOK DRIVE, SUITE 500 GLEN ALLEN, VA 23060 |
 |  |  President |  |
Walter L. Smith, A. Brent King, John Hamerki, Timothy J. Korman | 03/06/2008 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(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). |
(1) | This transaction is part of a paired group of puts and calls commonly referred to as a "zero cost collar," which pre-existed the insider status of the reporting person. Accordingly, the calls shown here are deemed short positions, and the puts are deemed long positions. If the collar is undone, the underlying transactions would be acquisitions of calls and sale of puts. On Form 3 the calls, although showing a positive amount are actually short. Therefore, an unwinding of the collar would be reflected on a Form 4 as a sale of the calls (when it was in fact a purchase). The put transactions would be properly reflected on the Form 4 for the unwinding. |