AMERICAN FAMILY MUTUAL INSURANCE COMPANY, S.I. - 23 May 2024 Form 4 Insider Report for Bowhead Specialty Holdings Inc. (BOW)

Role
Director, Other*, 10%+ Owner
Signature
American Family Mutual Insurance Company, S.I., By: /s/ Troy Van Beek, Chief Financial Officer
Issuer symbol
BOW
Transactions as of
23 May 2024
Net transactions value
$0
Form type
4
Filing time
28 May 2024, 11:32:20 UTC
Next filing
29 May 2024
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BOW Warrant to Purchase Common Stock Award $0 +1,614,250 $0.000000 1,614,250 23 May 2024 Common Stock 1,614,250 $17.00 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to a Warrant Agreement, dated May 23, 2024, with the Issuer.
F2 This assumes that the over-allotment option granted by the Issuer to the underwriters will not be exercised. To the extent it is exercised, the Warrant will be increased by a number of shares equal to 5% of such additional shares issued, up to a maximum of 1,670,721.
F3 This Warrant will vest as to 20% of the total number of shares subject to the Warrant on the first, second, third, fourth and fifth anniversaries of the vesting commencement date (05/23/2024).

Remarks:

Troy Van Beek, the Chief Financial Officer and Treasurer of American Family Mutual Insurance Company, S.I. (AFMIC), was nominated as a director of the Issuer pursuant to the Investor Matters Agreement, dated May 23, 2024, between AFMIC and the Issuer. Accordingly, AFMIC may be deemed to be a director by deputization for purposes of Section 16 under the Securities Exchange Act of 1934, as amended.