SEC Form 4 · accession 0001140361-16-083374
LAKE SHORE BANCORP, INC. · LSBK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey M. Werdein
Officer — EVP-Commercial Division
Period of report
Oct 21, 2016
Accepted (ET)
Oct 24, 2016 · 3:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001341318
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2,F1 | Oct 21, 2016 | A | 6,900 | $0.00 | A | 12,400 | D | |
| Common StockF3 | holding | — | — | — | 412 | I | By ESOP |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F4 | $14.38 | Oct 21, 2016 | A | 17,073 | A | — | Oct 21, 2026 | Common Stock | 17,073 | 17,073 | D |
Explanation of responses
- F1Includes 3,000 shares of restricted stock which will vest in three equal annual installments. The first installment will vest on August 12, 2017.
- F2Shares of restricted stock vest at a rate of 20% per year commencing on October 21, 2017.
- F3These shares were acquired pursuant to an Employee Stock Ownership Plan allocation.
- F4Stock options vest at a rate of 20% per year commencing on October 21, 2017.