SEC Form 4 · accession 0001140361-16-068067
Customers Bancorp, Inc. · CUBI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard A Ehst
Officer — President and COO
Period of report
May 31, 2016
Accepted (ET)
Jun 1, 2016 · 3:18 pm EDT
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 StockF2,F3,F4 | May 31, 2016 | M | 9,500 | $8.86 | A | 102,967 | D | |
| Common StockF6,F7,F3,F4 | May 31, 2016 | S | 9,500 | $26.82 | D | 93,467 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Options (right to buy)F2,F1,F4,F5 | $8.86 | May 31, 2016 | M | 9,500 | A | Apr 6, 2015 | Apr 6, 2020 | Common Stock | 9,500 | 64,544 | 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).
- F2Stock Options exercised.
- F3Includes 71,834 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.
- F6Sale of Common Stock in connection with broker assisted cashless exercise of options.
- F7This transaction was executed in multiple trades at prices ranging from $26.67 to $26.98. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.