SEC Form 4 · accession 0001140361-16-086993
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
Nov 9, 2016
Accepted (ET)
Nov 16, 2016 · 5:47 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001488813
Table I — non-derivative securities
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)F3 | $25.97 | Nov 9, 2016 | A | 36,225 | A | Nov 9, 2021 | Nov 9, 2026 | Common Stock | 36,225 | 36,225 | D |
Explanation of responses
- F1Includes 71,834 shares of common stock previously reported in Table I separately as Restricted Stock Units.
- F2On 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.
- F3Under 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 7% over the vesting period.