SEC Form 4 · accession 0001209191-15-007065
MARLIN BUSINESS SERVICES CORP · MRLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward John Siciliano
Officer — Chief Sales Officer
Period of report
Jan 26, 2015
Accepted (ET)
Jan 28, 2015 · 4:40 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001260968
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Jan 26, 2015 | F | 293 | $16.89 | D | 84,221 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option to Purchase Common StockF4,F5 | $9.52 | holding | — | — | — | Mar 1, 2012 | Mar 1, 2015 | Option to Purchase Common Stock | 10,776 | 10,776 | D |
Explanation of responses
- F1Represents the delivery of shares to pay the tax liability associated with the vesting of certain shares of restricted stock.
- F2Includes a total of 29,357 shares of restricted stock where, as of the date of this filing, the restrictions have not yet lapsed.
- F3Includes 269 shares acquired under the Marlin Business Services Corp. 2012 Employee Stock Purchase Plan on December 31, 2014.
- F4Represents the date the options will cliff vest if certain four year average EPS growth targets are achieved.
- F5Represents the maximum number of options that may vest under this performance option grant. Vesting will be determined by EPS growth rates averaged over a four year performance period. Depending on the average EPS growth rate achieved for the four year period, the number of shares that vest at the end of the four year period could be 0; 3,592; 7,184; or 10,776.