Gould Kirstin Romann Form 4 XL / Gould Kirstin Romann ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Romann Gould Kirstin

(Last) (First) (Middle)

ONE BERMUDIANA ROAD

(Street)

HAMILTON D0 HM 08

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
XL GROUP LTD [ XL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
General Counsel & Secretary

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2018

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	09/12/2018		D(1)		90,313(2)	D	$57.6	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to buy)	$18.27	09/12/2018		D			66,593(3)	02/28/2013	02/28/2020	Common Shares	66,593	$57.6	0	D
Employee Stock Option (Right to buy)	$23.35	09/12/2018		D			61,539(3)	02/28/2014	02/28/2021	Common Shares	61,539	$57.6	0	D
Employee Stock Option (Right to buy)	$20.61	09/12/2018		D			80,646(3)	02/28/2015	02/28/2022	Common Shares	80,646	$57.6	0	D
Employee Stock Option (Right to buy)	$28.64	09/12/2018		D			65,948(3)	02/28/2016	02/28/2023	Common Shares	65,948	$57.6	0	D
Employee Stock Option (Right to buy)	$30.4	09/12/2018		D			63,954(3)	02/28/2017	02/28/2024	Common Shares	63,954	$57.6	0	D
Employee Stock Option (Right to buy)	$36.2	09/12/2018		D			83,714(3)	02/28/2018	02/28/2025	Common Shares	83,714	$57.6	0	D
Employee Stock Option (Right to buy)	$34.64	09/12/2018		D			91,820(3)	02/28/2019	02/28/2026	Common Shares	91,820	$57.6	0	D
Employee Stock Option (Right to buy)	$40.49	09/12/2018		D			40,802(3)	02/28/2020	02/28/2027	Common Shares	40,802	$57.6	0	D
Employee Stock Option (Right to buy)	$42.31	09/12/2018		D			21,277(3)	02/28/2021	02/28/2028	Common Shares	21,277	$57.6	0	D
Restricted Stock Units	(4)	09/12/2018		D			4,528(5)	(6)	(6)	Common Shares	4,528	$57.6	0	D
Dividend Equivalent Rights	(7)	09/12/2018		D			138.12(8)	(7)	(7)	Common Shares	138.12	$57.6	0	D
Restricted Stock Units	(4)	09/12/2018		D			5,200(5)	(9)	(9)	Common Shares	5,200	$57.6	0	D
Dividend Equivalent Rights	(7)	09/12/2018		D			41.18(8)	(7)	(7)	Common Shares	41.18	$57.6	0	D

Explanation of Responses:

1. Disposed of following the completion of the merger (the "Merger") described in the Agreement and Plan of Merger, dated as of March 5, 2018, by and among AXA SA, Camelot Holdings Ltd. and the Issuer. At the effective time of the Merger, each issued and outstanding common share of XL Group Ltd was automatically cancelled and converted into the right to receive $57.60 in cash (the "Merger Consideration").

2. Includes all common shares held directly by the Reporting Person immediately prior to the Merger and which were automatically cancelled and converted into the right to receive the Merger Consideration.

3. At the effective time of the Merger, each option to purchase common shares granted by XL Group Ltd outstanding and unexercised immediately prior to the effective time of the Merger (whether or not vested or exercisable) vested in full, was cancelled and was converted into the right to receive an amount in cash equal to the excess, if any, of the Merger Consideration over the per share exercise price of such option, multiplied by the number of common shares subject to such option immediately prior to the effective time of the Merger.

4. Each restricted stock unit represents a contingent right to receive one common share.

5. At the effective time of the Merger, each restricted stock unit granted by XL Group Ltd outstanding immediately prior to the effective time of the Merger (whether or not vested) vested in full, was automatically cancelled and converted into the right to receive the Merger Consideration.

6. At the time of grant, restricted stock units granted on February 28, 2017 were scheduled to vest in three equal annual installments on each anniversary of the grant date (February 28, 2018, 2019 and 2020).

7. The dividend equivalent rights accrued when and as dividends were paid on common shares. Each dividend equivalent right is the economic equivalent of one common share.

8. At the effective time of the Merger, each dividend equivalent right accrued and outstanding prior to the effective time of the Merger (whether or not vested) vested in full, was automatically cancelled and converted into the right to receive the Merger Consideration.

9. At the time of grant, restricted stock units granted on February 28, 2018 were scheduled to vest in three equal annual installments on each anniversary of the grant date (February 28, 2019, 2020 and 2021).

Remarks:

	H. Matthew Crusey, Attorney-in-Fact for Kirstin Gould	09/14/2018
	** Signature of Reporting Person	Date
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