SEC Form 4 · accession 0001567619-18-008304
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
Dec 15, 2018
Accepted (ET)
Dec 18, 2018 · 5:58 pm EST
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 StockF1,F2,F3 | Dec 15, 2018 | A | 2,300 | $0.00 | A | 13,713 | D | |
| Common StockF2,F3 | Dec 15, 2018 | F | 781 | $15.2027 | D | 12,932 | D | |
| Common StockF4 | holding | — | — | — | 1,431 | 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 OptionsF5 | $14.38 | holding | — | — | — | — | Oct 21, 2026 | Common Stock | 17,073 | 17,073 | D |
Explanation of responses
- F1On January 20, 2016, the reporting person was granted 2,300 shares of restricted stock which vest on December 15, 2018, subject to satisfaction of certain performance criteria. The performance criteria were met, resulting in the vesting of 2,300 shares of restricted stock.
- F2Includes 1,000 shares of restricted stock which will vest on August 12, 2019.
- F3Includes 4,140 shares of restricted stock which will vest in three equal installments, with first installment on October 21, 2019.
- F4These shares were acquired pursuant to an Employee Stock Ownership Plan allocation.
- F5Stock options vest at a rate of 20% per year commencing on October 21, 2017.