SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 21, 2007
Endurance Specialty Holdings Ltd.
(Exact name of registrant as specified in its charter)
Bermuda
(State or Other Jurisdiction of Incorporation)
| | | |
1-31599
(Commission File Number) | | 98-032908
(I.R.S. Employer Identification No.) |
Wellesley House, 90 Pitts Bay Road, Pembroke HM 08, Bermuda
(Address of principal executive offices, including zip code)
(441) 278-0440
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| o | | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| o | | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events.
On September 21, 2007, Endurance Specialty Holdings Ltd. (“Endurance”) adopted a written trading plan under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to facilitate the continuing repurchase of its ordinary shares in accordance with Endurance’s existing share repurchase authorization. As previously announced by Endurance in May 2007, Endurance’s Board of Directors approved an increase in the number of ordinary shares authorized for repurchase through open market and privately negotiated purchases under the Company’s share repurchase program to a total of 18 million ordinary shares.
Endurance’s Rule 10b5-1 trading plan provides that a broker selected by Endurance has the authority to repurchase shares on the open market or in privately negotiated transactions pursuant to the terms and limitations specified in the plan, including compliance with Rule 10b-18 under the Exchange Act. The Rule 10b5-1 trading plan will allow Endurance’s broker to repurchase ordinary shares on behalf of Endurance during Endurance’s prohibited trading period in connection with Endurance’s third quarter 2007 earnings release, to the extent such purchases are permitted pursuant to Regulation M under the Exchange Act. There can be no assurance that any shares will be repurchased by Endurance either through its Rule 10b5-1 trading plan or otherwise.
Endurance may suspend or terminate its Rule 10b5-1 trading plan at any time, so long as the suspension or termination is made in good faith and not as a part of a plan or scheme to evade the prohibitions of Rule 10b-5 under the Exchange Act, or other applicable securities laws.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: September 21, 2007
| | | | By: |
/s/ John V. Del Col
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| | | | Name: | John V. Del Col |
| | | | Title: | General Counsel & Secretary |
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