SEC Form 4 · accession 0001140361-17-011875
Customers Bancorp, Inc. · CUBI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven Issa
Officer — Exec VP/Chief Lending Officer
Period of report
Feb 28, 2017
Accepted (ET)
Mar 14, 2017 · 12:34 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 | Feb 28, 2017 | A | 5,008 | $0.00 | A | 21,569 | D | |
| Common StockF2,F3 | Mar 10, 2017 | S | 4,463 | $33.00 | D | 17,106 | 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) | $17.65 | holding | — | — | — | Feb 20, 2019 | Feb 20, 2024 | Common Stock | 5,500 | 5,500 | D |
| Stock Options (right to buy) | $13.62 | holding | — | — | — | Apr 29, 2018 | Apr 29, 2023 | Common Stock | 11,000 | 11,000 | D |
| Stock Options (right to buy)F4 | $23.36 | holding | — | — | — | Aug 26, 2020 | Aug 26, 2025 | Common Stock | 10,000 | 10,000 | D |
Explanation of responses
- F1Grant of restricted stock award in connection with 2016 performance bonus, with shares vesting in accordance with the terms of the award. A portion of this grant was provided in lieu of a cash bonus payment.
- F2Includes 16,218 Restricted Stock Units.
- F3Includes 888 shares acquired pursuant to Customers Bancorp, Inc.'s Employee Stock Purchase Plan.
- F4Under 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.