SEC Form 4 · accession 0001562180-17-001072
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
Feb 28, 2017
Accepted (ET)
Mar 2, 2017 · 7:27 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,F2,F3,F4,F5,F6 | Feb 28, 2017 | A | 5,725 | $0.00 | A | 243,666 | D | |
| Common StockF7,F2,F3,F4,F5,F6,F8 | Feb 28, 2017 | A | 8,588 | $0.00 | A | 252,254 | D | |
| Common StockF9 | Feb 28, 2017 | A | 424 | — | A | 952 | 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)F10 | $20.45 | holding | — | — | — | Jul 2, 2016 | Jul 2, 2024 | Common Stock | 100,000 | 100,000 | D |
| Non-Qualified Stock Option (right to buy)F11 | $19.31 | holding | — | — | — | Mar 26, 2017 | Mar 26, 2025 | Common Stock | 63,604 | 63,604 | D |
Explanation of responses
- F1Restricted shares of stock awarded 2/28/17 with a grant date of 3/1/17 which will vest 50% 3/1/2018 and 50% 3/1/2019.
- F10Options are exercisable on the two year anniversary of the date of grant of 7/2/14.
- F1133 1/3% is first earned and exercisable on March 26, 2017 and 33 1/3% annually thereafter.
- F2Total includes a stock award of 5,725 shares awarded 2/28/17 with a grant date of 3/1/17 which will vest at the rate of 50% on 3/1/2018 and 50% on 3/1/2019.
- 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 date of grant.
- F4Total 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.
- F5Total includes 90,362 shares of restricted stock granted 7/2/14 of which one-third vested on July 2, 2016 and the remainder will vest one-third in July 2017 and one-third in July 2018.
- 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.
- F7Restricted shares of stock awarded 2/28/17 with a grant date of 3/1/17 which will vest 100% 4/1/2018.
- F8Total includes a stock award of 8,588 awarded 2/28/17 with a grant date of 3/1/17 which will vest 100% on 4/1/2018.
- F9Various dates and prices.