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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
_______________________________________________________________________________
1. Name and Address of Reporting Person*
COOK ANDREW
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(Last) (First) (Middle)
c/o LaSalle Re Holdings Limited
25 Church Street
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(Street)
Hamilton HM FX BERMUDA
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(City) (State) (Zip)
_______________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
LaSalle Re Holdings Limited (NYSE:LSH)
_______________________________________________________________________________
3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
_______________________________________________________________________________
4. Statement for Month/Year
January 1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Senior Vice President and Chief Financial Officer
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_______________________________________________________________________________
7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[ ] Form filed by more than one Reporting Person
_______________________________________________________________________________
<PAGE>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Common Shares 10/1/98 A V 10,000 A (1)
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Common Shares 12/14/98 D(2) V 0.884 D $23.00
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Common Shares 12/14/98 D(2) V 0.344 D $23.00
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Common Shares 1/20/99 S 6,416 D $20.2344 16,874.446 (3) D
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
(Form 4-07/98)
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Common
Options to acquire $25.875 10/1/98 A V 22,000 (4) Shares 22,000 (4) 22,000 D
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Explanation of Responses:
(1) Award of restricted stock pursuant to the LaSalle Re Holdings Limited 1996 Long-Term Incentive Plan (the "Plan"). Shares vest
as follows: 1/3 on 10/1/01, 1/3 on 10/1/02 and 1/3 on 10/1/03.
(2) Pursuant to the terms of the Plan, when awards of restricted stock vest under the Plan, the reporting person receives cash in
settlement of the fractional share portions of such awards (calculated at the fair market value of a Common Share on the
vesting date).
(3) Of the Common Shares beneficially owned, 14.874.446 shares are unvested restricted stock granted under the Plan.
Of the restricted stock, 4,874.446 shares are restricted stock awards granted to compensate the reporting person for the
dillutive effect on the exercise price of options granted under the Plan of certain dividends paid by the issuer. These
shares of restricted stock vest only when the underlying options are exercised.
(4) Award of options pursuant to the Plan. Options vest as follows: 1/3 on 10/1/99, 1/3 on 10/1/00 and 1/3 on 10/1/01.
</TABLE>
/s/ Andrew Cook February 4, 1999
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
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