SEC Form 4 · accession 0001209191-15-021435

MARLIN BUSINESS SERVICES CORP · MRLN

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Chief Executive Officer · Director

Period of report

Mar 16, 2014

Accepted (ET)

Mar 3, 2015 · 5:14 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
Common Stock^F1,F2	Mar 16, 2014	F	3,072	$22.13	D	377,674	D
Common Stock^F1,F3	Feb 27, 2015	F	912	$18.71	D	376,762	D
Common Stock^F1,F4	Mar 1, 2015	F	696	$18.71	D	376,066	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Option to Purchase Common Stock^F5	$12.41	holding	—	—	—	May 24, 2014	May 24, 2017	Common Stock	39,912	19,956	D
Option to Purchase Common Stock^F6,F7	$12.41	holding	—	—	—	May 24, 2013	May 24, 2017	Common Stock	8,612	8,612	D
Option to Purchase Common Stock^F6,F8	$9.52	holding	—	—	—	Mar 1, 2012	Mar 1, 2015	Common Stock	31,034	31,034	D

F1Represents the delivery of shares to pay the tax liability associated with the vesting of certain shares of restricted stock.
F2Includes a total of 68,299 shares of restricted stock where, as of the date of this filing, the restrictions have not yet lapsed.
F3Includes a total of 65,575 shares of restricted stock where, as of the date of this filing, the restrictions have not yet lapsed.
F4Includes a total of 63,496 shares of restricted stock where, as of the date of this filing, the restrictions have not yet lapsed.
F5Date listed is the date of full vesting. Vests 25% per year beginning on the first anniversary of the date of grant.
F6Represents the date the options will cliff vest if certain four year average EPS growth targets are achieved.
F7Represents 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.
F8Represents 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.