SEC Form 4 · accession 0001562180-16-002073
SUN BANCORP INC /NJ/ · SNBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas M OBrien
Officer — President & CEO · Director
Period of report
Apr 1, 2016
Accepted (ET)
Apr 4, 2016 · 5:03 pm EDT
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,F3 | Apr 1, 2016 | A | 25,132 | $0.00 | A | 203,235 | D | |
| Common StockF4,F1,F3,F5 | Apr 1, 2016 | A | 25,132 | $0.00 | A | 228,367 | D | |
| Common StockF4,F1,F3,F5,F6 | Apr 1, 2016 | A | 9,574 | $0.00 | A | 237,941 | D | |
| Common Stock | holding | — | — | — | 528 | I | 401(k) | |
| Common StockF1 | holding | — | — | — | 178,103 | D |
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)F7 | $20.45 | holding | — | — | — | Jul 2, 2016 | Jul 2, 2024 | Common Stock | 100,000 | 100,000 | D |
| Non-Qualified Stock Option (right to buy)F8 | $19.31 | holding | — | — | — | Mar 26, 2017 | Mar 26, 2025 | Common Stock | 63,604 | 63,604 | D |
Explanation of responses
- F1Total includes a stock award of 90,362 shares granted 7/2/14 which will vest at the rate of one-third after 24 months, one-third after 36 months and one-third after 48 months from the date of grant.
- F2Restricted shares of stock granted 4/1/16 which will vest at the rate of one-third after 24 months, one-third after 36 months and one-third after 48 months from the date of grant.
- F3Total includes 25,132 shares of restricted stock granted 4/1/16 which will vest at the rate of one-third after 24 months, one-third after 36 months and one-third after 48 months from the date of grant.
- F4Restricted shares of stock granted 4/1/16 which will vest at the rate of 50% on 6/30/17 and 50% on 6/30/18.
- F5Total includes 25,132 shares of restricted stock granted 4/1/16 which will vest at the rate of 50% on 6/30/17 and 50% on 6/30/18.
- F6Total includes 9,574 shares of restricted stock granted 4/1/16 which will vest at the rate of 50% on 6/30/17 and 50% on 6/30/18.
- F7Options are exercisable on the two year anniversary of the date of grant of 7/2/14.
- F825% is first earned and exercisable on March 26, 2017 and 25% annually thereafter.