SEC Form 4 · accession 0001140361-16-049244
Customers Bancorp, Inc. · CUBI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard A Ehst
Officer — President & COO
Period of report
Aug 26, 2015
Accepted (ET)
Jan 29, 2016 · 5:52 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001488813
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF3,F4 | Jan 27, 2016 | F | 234 | $25.70 | D | 85,603 | D |
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)F6 | $23.36 | holding | — | — | — | Aug 26, 2020 | Aug 26, 2025 | Common Stock | 46,395 | 46,395 | D |
| Employee Stock Options (right to buy)F1,F4,F5 | $15.23 | holding | — | — | — | May 21, 2018 | May 21, 2023 | Common Stock | 101,956 | 101,956 | D |
| Employee Stock Options (right to buy)F1,F4,F5 | $8.86 | holding | — | — | — | Apr 6, 2015 | Apr 6, 2020 | Common Stock | 74,044 | 74,044 | D |
| Employee Stock Options (right to buy)F1,F4,F5 | $9.55 | holding | — | — | — | Jul 14, 2015 | Jul 14, 2020 | Common Stock | 1,925 | 1,925 | D |
| Employee Stock Options (right to buy)F1,F4,F5 | $10.91 | holding | — | — | — | Dec 28, 2015 | Dec 28, 2020 | Common Stock | 12,279 | 12,279 | D |
| Employee Stock Options (right to buy)F1,F4,F5 | $10.91 | holding | — | — | — | Jan 31, 2016 | Jan 31, 2021 | Common Stock | 12,616 | 12,616 | D |
| Employee Stock Options (right to buy)F1,F4,F5 | $10.91 | holding | — | — | — | Feb 28, 2016 | Feb 28, 2021 | Common Stock | 5,531 | 5,531 | D |
| Employee Stock Options (right to buy)F1,F4,F5 | $10.91 | holding | — | — | — | Mar 7, 2016 | Mar 7, 2021 | Common Stock | 4,428 | 4,428 | D |
| Employee Stock Options (right to buy)F1,F4,F5 | $12.00 | holding | — | — | — | Sep 17, 2016 | Sep 17, 2021 | Common Stock | 10,296 | 10,296 | D |
| Employee Stock Options (right to buy)F1,F4,F5 | $12.00 | holding | — | — | — | Sep 30, 2016 | Sep 30, 2021 | Common Stock | 16,250 | 16,250 | D |
| Employee Stock Options (right to buy)F1,F4,F5 | $12.73 | holding | — | — | — | Sep 20, 2017 | Sep 20, 2022 | Common Stock | 117,345 | 117,345 | D |
Explanation of responses
- F1Under the terms of the Customers Bancorp, Inc. 2010 Stock Option Plan, these Stock Options will vest and become exercisable on the fifth anniversary of date of grant, subject to a 50% increase in the trading price of the company's voting common stock on the NASDAQ Global Select Market (or other national stock market or securities quotation system).
- F2Shares withheld for taxes upon vesting of previously issued restricted stock.
- F3Includes 63,390 shares of common stock previously reported in Table I separately as Restricted Stock Units.
- F4On May 15, 2014, Customers Bancorp, Inc. declared a 10% stock dividend payable to all holders of record of common stock on May 27, 2014 (the "Stock Dividend"). As a result, the reporting person received additional shares of common stock as of June 30, 2014.
- F5Exercise price adjusted to account for Stock Dividend.
- F6Under the terms of the Customers Bancorp, Inc. 2010 Stock Option Plan, these Stock Options will vest and become exercisable on the fifth anniversary of the date of grant, subject to either (i) total shareholder returns over the vesting period of at least 50%, or (ii) compound annual growth in diluted EPS for the company of at least 10% over the vesting period.