MARKEL CORPORATION (Exact name of registrant as specified in charter) | ||
Virginia | 54-1959284 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
4521 Highwoods Parkway, Glen Allen, Virginia 23060-6148 | ||
(804) 747-0136 | ||
(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) | ||
2012 Equity Incentive Compensation Plan | ||
(Full Title of the Plan) | ||
D. Michael Jones | ||
General Counsel and Secretary | ||
Markel Corporation | ||
4521 Highwoods Parkway, Glen Allen, Virginia 23060-6148 | ||
(Name and address of agent for service) | ||
(804) 747-0136 | ||
(Telephone number, including area code, of agent for service) |
Large accelerated filer x | Accelerated filer o | Non-accelerated filer o | Smaller reporting company o |
CALCULATION OF REGISTRATION FEE | ||||
Title of Each Class of Securities to be Registered | Amount to be Registered(1) | Proposed Maximum Offering Price per Share (2) | Proposed Maximum Aggregate Offering Price (2) | Amount of Registration Fee |
Common Stock, no par value | 150,000 | $441.61 | $66,241,500 | $7,591.28 |
(1) | Pursuant to Rule 416(a) under the Securities Act of 1933, as amended, this Registration Statement also covers additional securities that may be offered under the terms of the 2012 Equity Incentive Compensation Plan as a result of stock splits, stock dividends or similar transactions. |
(2) | Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(h) under the Securities Act; based on the average of the high and low prices of the Registrant's common stock, no par value (the “Common Stock”) on the New York Stock Exchange on May 8, 2012, which was $ 441.61. |
(1) | The Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2011; |
(2) | The Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2012; |
(3) | The description of the Registrant's capital stock contained in its Form 8-A filed on April 7, 2000 under Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). |
• | he conducted himself in good faith; |
• | he believed in the case of conduct in his official capacity with the corporation, that his conduct was in its best interests and in all other cases that his conduct was at least not opposed to its best interests; and |
• | in the case of any criminal proceeding, he had no reasonable cause to believe his conduct was unlawful. |
• | one or more officers or employees of the corporation whom the director believes, in good faith, to be reliable and competent in the matters presented; |
• | legal counsel, public accountants, or other persons as to matters the director believes, in good faith, are within the person's professional or expert competence; or |
• | a committee of the board of directors of which he is not a member if the director believes, in good faith, that the committee merits confidence. |
• | the monetary amount, including the elimination of liability, specified in the articles of incorporation or, if approved by the shareholders, in the bylaws; or |
• | the greater of $100,000 or the amount of cash compensation received by the officer or director from the corporation during the twelve months immediately preceding the act or omission for which liability was imposed. |
(1) | To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: |
(i) | To include any prospectus required by section 10(a)(3) of the Securities Act of 1933; |
(ii) | To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; and |
(iii) | To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement; |
(2) | That for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. |
(3) | To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. |
(4) | That, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. |
(5) | Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue. |
MARKEL CORPORATION | ||
By: | /s/ Anne G. Waleski | |
Anne G. Waleski | ||
Title: | Vice President and Chief Financial Officer |
Signature | Title | ||
/s/ | Alan I. Kirshner* | Director, Chairman and Chief Executive Officer | |
Alan I. Kirshner | (Principal Executive Officer) | ||
/s/ | Anthony F. Markel* | Director | |
Anthony F. Markel | |||
/s/ | Steven A. Markel* | Director | |
Steven A. Markel | |||
/s/ | Anne G. Waleski | Vice President and Chief Financial Officer | |
Anne G. Waleski | (Principal Financial Officer) | ||
/s/ | Nora N. Crouch | Controller and Chief Accounting Officer | |
Nora N. Crouch | (Principal Accounting Officer) | ||
/s/ | J. Alfred Broaddus* | Director | |
J. Alfred Broaddus | |||
/s/ | Douglas C. Eby* | Director | |
Douglas C. Eby | |||
/s/ | Stewart M. Kasen* | Director | |
Stewart M. Kasen | |||
/s/ | Lemuel E. Lewis* | Director | |
Lemuel E. Lewis | |||
/s/ | Darrell D. Martin* | Director | |
Darrell D. Martin | |||
/s/ | Jay M. Weinberg* | Director | |
Jay M. Weinberg | |||
/s/ | Debora J. Wilson* | Director | |
Debora J. Wilson | |||
*By: | /s/ D. Michael Jones | |
D. Michael Jones | ||
Attorney-in-fact |
Exhibit Number | Description | |
3.1 | Amended and Restated Articles of Incorporation of Markel Corporation (incorporated by reference to Exhibit 3(i) of the Company's Current Report on Form 8-K filed May 13, 2011). | |
3.2 | Bylaws of Markel Corporation (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K dated May 14, 2010). | |
5.1 | Opinion of D. Michael Jones, counsel to the Issuer with respect to the Offered Securities, filed herewith. | |
10.1 | Form of May 2012 Restricted Stock Agreement for Non-Employee Directors | |
23.1 | Consent of KPMG LLP, filed herewith. | |
23.2 | Consent of D. Michael Jones (contained in Exhibit 5.1). | |
24.1 | Powers of Attorney from officers and directors, filed herewith. | |
99.1 | 2012 Equity Incentive Compensation Plan (incorporated by reference to Appendix A to the Company's Definitive Proxy Statement filed March 16, 2012) |