SEC Form 4 · accession 0001562180-16-001893
SUN BANCORP INC /NJ/ · SNBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patricia M Schaubeck
Officer — EVP & General Counsel
Period of report
Mar 1, 2016
Accepted (ET)
Mar 3, 2016 · 7:35 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 StockF2,F1 | Mar 1, 2016 | A | 2,965 | $0.00 | A | 11,447 | D | |
| Common StockF1 | holding | — | — | — | 8,482 | D | ||
| Common Stock | holding | — | — | — | 343 | I | 401 (k) |
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)F3 | $21.08 | Mar 1, 2016 | A | 10,093 | A | Mar 1, 2018 | Mar 1, 2026 | Common Stock | 10,093 | 10,093 | D |
Explanation of responses
- F1Amount includes 5,000 shares of Common Stock awarded 9/29/14. Stock Award shall become earned and non-forfeitable beginning 25% on the second anniversary of the effective date of award (September 29, 2016) and 25% annually thereafter, becoming 100% vested as of September 29, 2019.
- F2Total includes 2,965 shares of Restricted Stock granted 3/1/16 which vests 741 shares on 3/1/18, 741 shares on 3/1/19, 741 shares on 3/1/20 and 742 shares on 3/1/21.
- F325% is first earned and exercisable on 3/1/18 and 25% annually thereafter.