SEC Form 4 · accession 0001567619-18-008308
LAKE SHORE BANCORP, INC. · LSBK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Beverly Sutton
Officer — Vice President
Period of report
Dec 15, 2018
Accepted (ET)
Dec 18, 2018 · 6:01 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 | Dec 15, 2018 | A | 985 | $0.00 | A | 2,304 | D | |
| Common StockF2 | Dec 15, 2018 | F | 325 | $15.2027 | D | 1,979 | D | |
| Common StockF3 | holding | — | — | — | 2,870 | 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 Option (Right to Buy)F4 | $14.38 | holding | — | — | — | — | Oct 21, 2026 | Common Stock | 5,691 | 5,691 | D |
Explanation of responses
- F1On January 20, 2016, the reporting person was granted 985 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 985 shares of restricted stock.
- F2Includes 713 shares of restricted stock which vest in three equal installments. The first installment will vest on October 21, 2018.
- 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.