SEC Form 4 · accession 0001354488-16-008239
Paragon Commercial CORP · PBNC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frank Alton Russell
Director
Period of report
Sep 1, 2016
Accepted (ET)
Sep 1, 2016 · 4:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001414374
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Sep 1, 2016 | M | 500 | $0.00 | A | 26,125 | D | |
| Common Stock | holding | — | — | — | 11,725 | I | By wife |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted StockF1 | $0.00 | Sep 1, 2016 | M | 500 | D | — | — | Common Stock | 500 | 1,000 | D |
| Stock Option (right to buy)F2 | $48.80 | holding | — | — | — | — | Dec 31, 2016 | Common Stock | 2,500 | 2,500 | D |
| Stock Option (right to buy)F3 | $48.00 | holding | — | — | — | — | May 14, 2017 | Common Stock | 1,875 | 1,875 | D |
Explanation of responses
- F1The restricted stock vests and becomes freely transferable in three equal annual installments beginning on September 1, 2016, as follows: 500 shares vest on each of September 1, 2016, 2017, and 2018.
- F2The option vested and became exercisable in five equal annual installments beginning on December 31, 2007, as follows: 20% of the shares subject to the option vested on each of December 31, 2007, 2008, 2009, 2010, and 2011.
- F3The option vested and became exercisable in five equal annual installments beginning on May 14, 2008, as follows: 20% of the shares subject to the option vested on each of May 14, 2008, 2009, 2010, 2011, and 2012.