SEC Form 4 · accession 0001562180-16-001891
SUN BANCORP INC /NJ/ · SNBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Anthony J Morris
Officer — EVP/Chief Banking Officer
Period of report
Mar 1, 2016
Accepted (ET)
Mar 3, 2016 · 7:15 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001017793
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 1, 2016 | A | 3,083 | $0.00 | A | 3,083 | D | |
| Common StockF2 | Mar 3, 2016 | A | 42 | — | A | 42 | I | 401 (k) |
| Common StockF3 | holding | — | — | — | 3,000 | I | Stock Plan 11/20/14 |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F4 | $21.08 | Mar 1, 2016 | A | 10,497 | A | Mar 1, 2018 | Mar 1, 2026 | Common Stock | 10,497 | 10,497 | D |
| Incentive Stock Option (right to buy)F5 | $18.73 | holding | — | — | — | Nov 20, 2016 | Nov 20, 2024 | Common Stock | 1,000 | 1,000 | D |
Explanation of responses
- F1Total includes 3,083 shares of Restricted Stock granted 3/1/16 which vests 770 shares on 3/1/18, 771 shares on 3/1/19, 771 shares on 3/1/20 and 771 shares on 3/1/21.
- F2Various dates and prices.
- F3Stock Award shall become earned and non-forfeitable beginning 25% on the second anniversary of the effective date of award (November 20, 2016) and 25% annually thereafter; becoming 100% vested as of November 20, 2019.
- F425% is first earned and exercisable on 3/1/18 and 25% annually thereafter.
- F5Options shall be first exercisable at the rate of 25% beginning on the second anniversary of the November 20, 2014 Date of Grant and 25% annually thereafter.