SEC Form 4 · accession 0001214659-19-000217
1ST CONSTITUTION BANCORP · FCCY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John T Andreacio
Officer — Chief Lending Officer and EVP
Period of report
Jan 4, 2019
Accepted (ET)
Jan 8, 2019 · 5:40 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001141807
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 4, 2019 | A | 1,300 | $0.00 | A | 23,711 | D | |
| Common StockF2 | holding | — | — | — | 780 | I | By 401(k) |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock option (right to buy)F3 | $19.38 | Jan 4, 2019 | A | 1,500 | A | — | Jan 4, 2029 | Common Stock | 1,500 | 1,500 | D |
Explanation of responses
- F1Performance-based restricted stock grant of 1,300 shares at target. This target award will vest pro-rata in three annual installments commencing in 2020, subject to achievement of pre-established performance metrics. The ultimate number of shares earned, if any, will depend upon performance achievement measured over each annual period during the period from January 1, 2019 through December 31, 2021. If performance measures are achieved, the restricted shares will vest on the date of certification of performance achievement by the Compensation Committee following each annual period.
- F2Information presented as of the close of business on January 4, 2019.
- F3Grant of 1,500 stock options that become exercisable in equal annual installments on January 4, 2020, January 4, 2021, January 4, 2022, January 4, 2023 and January 4, 2024.