SEC Form 4 · accession 0001209191-15-014467
MARLIN BUSINESS SERVICES CORP · MRLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel P Dyer
Officer — Chief Executive Officer · Director
Period of report
Feb 14, 2015
Accepted (ET)
Feb 17, 2015 · 4:02 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 | Feb 14, 2015 | F | 688 | $17.71 | D | 383,946 | 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 StockF3 | $12.41 | holding | — | — | — | May 24, 2014 | May 24, 2017 | Common Stock | 39,912 | 19,956 | D |
| Option to Purchase Common StockF4,F5 | $12.41 | holding | — | — | — | May 24, 2013 | May 24, 2017 | Common Stock | 8,612 | 8,612 | D |
| Option to Purchase Common StockF4,F6 | $9.52 | holding | — | — | — | Mar 1, 2012 | Mar 1, 2015 | Common Stock | 31,034 | 31,034 | 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 86,183 shares of restricted stock where, as of the date of this filing, the restrictions have not yet lapsed.
- F3Date listed is the date of full vesting. Vests 25% per year beginning on the first anniversary of the date of grant.
- 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; 2,870; 5,741; or 8,612.
- F6Represents 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; 10,345; 20,689; or 31,034.