Company: KNSL
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001669162-25-000021
Chunk: 78

Company: Kinsale Capital Group, Inc.
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 78
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 of service recipient stock” within the meaning of Section 409A of the Code.

(t) “ Exchange Act ” means the Securities Exchange Act of 1934, as amended from time to time.

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(u) “ Exercise Price ” means, with respect to any Option, the per share price at which a holder of such Option may purchase Shares issuable upon exercise of such Award, and, with respect to a Share Appreciation Right, the base price per share of such Share Appreciation Right, which, with respect to Options and Share Appreciation Rights, in any event will not be less than one hundred percent (100%) of the Fair Market Value of a related share of Common Stock on the date of grant.

(v) “ Fair Market Value ” of a share of Common Stock or another security as of a particular date shall mean the fair market value as determined by the Administrator in its sole discretion; provided , however , that (i) if the Common Stock or other security is admitted to trading on a national securities exchange, the fair market value on any date shall be the closing sale price reported on the prior day, or if no shares were traded on such prior day, on the last preceding date for which there was a sale of a share of Common Stock on such exchange, or (ii) if the Common Stock or other security is then traded in an over-the-counter market, the fair market value on any date shall be the average of the closing bid and asked prices for such share in such over-the-counter market for the last preceding date on which there was a sale of such share in such market.

(w) “ Good Reason ” has the meaning assigned to such term or an analogous term in any employment agreement or severance agreement or plan or Award Agreement.

(x) “ ISO ” means an Option intended to be and designated as an incentive stock option within the meaning of Section 422 of the Code.

(y) “ Nonqualified Stock Option ” shall mean an Option that is not designated as an ISO.

(z) “ Option ” means an option to purchase shares of Common Stock granted pursuant to Section 7 hereof. The term “Option” as used in the Plan includes the terms “Nonqualified Stock Option” and “ISO.”

(aa) “ Other Share-Based Award ” means a right or other interest granted pursuant to Section 10 hereof that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, the Common Stock, including,