SEC Form 4 · accession 0001209191-15-014468
MARLIN BUSINESS SERVICES CORP · MRLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lynne C Wilson
Officer — Chief Financial Officer
Period of report
Feb 14, 2015
Accepted (ET)
Feb 17, 2015 · 4:03 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 | 194 | $17.71 | D | 90,267 | 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 | 3,952 | 988 | D |
| Option to Purchase Common StockF4,F5 | $12.41 | holding | — | — | — | May 24, 2013 | May 24, 2017 | Common Stock | 3,196 | 2,208 | D |
| Option to Purchase Common StockF4,F6 | $9.52 | holding | — | — | — | Mar 1, 2012 | Mar 1, 2012 | Common Stock | 12,265 | 12,265 | 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 20,691 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 diluted EPS compounded average growth rate targets are achieved.
- F5Represents the maximum number of options that may vest under this performance option grant. Vesting will be determined by diluted EPS compounded average growth rates over a four year performance period. Depending on the diluted EPS compounded average growth rate achieved for the four year period, the number of options that vest at the end of the four year period could be 0; 1,065; 2,130; or 3,196.
- F6Represents the maximum number of options that may vest under this performance option grant. Vesting will be determined by diluted EPS growth rates averaged over a four year performance period. Depending on the average diluted 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; 4,088; 8,177; or 12,265.