Premium over Conversion value Premium over Conversion value - The market price of a convertible security minus it conversion value: also called conversion premium. For example, if the market value per share of preferred stock in FunFinMan, Inc,were trading at $154 per share, then the conversion premium Is. $154-$140=$14 premium per share of preferred stock (or a 10% premium) 22-922-9 Premium Over Conversion Value -- The market price of a convertible security minus it conversion value; also called conversion premium. Premium Over Conversion Value For example, if the market value per share of preferred stock in FunFinMan, Inc., were trading at $154 per share, then the conversion premium is: $154 - $140 = $14 premium per share of preferred stock (or a 10% premium)