SEC Form 4 · accession 0001234836-15-000002
PACIFIC FINANCIAL CORP · PFLC.OB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bruce D Macnaughton
Officer — CCO
Period of report
Jan 30, 2015
Accepted (ET)
Mar 11, 2015 · 7:26 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001093728
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF1,F2 | — | Jan 30, 2015 | A | 1,806 | A | Jan 30, 2018 | — | Common Stock | 1,806 | 1,806 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of common stock of the issuer.
- F2The restricted stock units vest on third anniversary of grant date, if not previously forfeited. Vested shares will be delivered to the reporting person on the first business day following third anniversary of grant date. Restricted stock units are forfeited if, prior to third anniversary of grant date, the reporting person ceases to be an employee of the issuer for any reason other than an acceleration event, or is placed on probation by the issuer.