N.J. Admin. Code § 11:2-6.12

Current through Register Vol. 56, No. 24, December 18, 2024

Section 11:2-6.12 - Options, warrants or rights

(a) If action is to be taken with respect to the granting or extension of any options, warrants or rights (all referred to herein as "warrants") to purchase stock of the insurer or of any subsidiary or affiliate, other than warrants issued to all stockholders on a pro rata basis, the proxy statement shall furnish the following information:

1. The title and amount of stock called for or to be called for;

2. The prices, expiration dates and other material conditions upon which the warrants may be exercised;

3. The consideration received or to be received by the insurer, subsidiary or affiliate for the granting or extension of the warrants; and

4. The market value of the stock called for or to be called for by the warrants, as of the latest practicable date.

(b) If known, the proxy statement shall state separately the amount of stock called for or to be called for by warrants received or to be received by the following persons, naming each such person:

1. Each person named in N.J.A.C. 11:2-6.9; and

2. Each other person who will be entitled to acquire five per cent or more of the stock called for or to be called for by such warrants.

(c) If known, the proxy statement shall state also the total amount of stock called for or to be called for by such warrants, received or to be received by all directors and officers of the company as a group, and by all such employees, without naming them.

N.J. Admin. Code § 11:2-6.12

Amended by R.1996 d.3, effective 1/2/1996.
See: 27 New Jersey Register 3278(b), 28 New Jersey Register 152(b).