SEC Form 4 · accession 0001140361-17-011997
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
Feb 28, 2017
Accepted (ET)
Mar 15, 2017 · 11:26 am 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 | 1,935 | $0.00 | A | 67,438 | D | |
| Common StockF4,F2,F3 | Mar 13, 2017 | M | 45,000 | $8.86 | A | 112,438 | D | |
| Common StockF6,F5,F2,F3 | Mar 13, 2017 | S | 45,000 | $33.27 | D | 67,438 | D | |
| Common StockF4,F2,F3 | Mar 14, 2017 | M | 19,544 | $8.86 | A | 86,982 | D | |
| Common StockF4,F2,F3 | Mar 14, 2017 | M | 9,000 | $10.91 | A | 95,982 | D | |
| Common StockF6,F9,F2,F3 | Mar 14, 2017 | S | 28,544 | $33.01 | D | 67,438 | D | |
| Common StockF2,F3 | Mar 14, 2017 | M | 1,925 | $9.55 | A | 69,363 | D | |
| Common StockF2,F3 | Mar 14, 2017 | M | 3,279 | $10.91 | A | 72,642 | D | |
| Common StockF2,F3 | Mar 14, 2017 | M | 12,616 | $10.91 | A | 85,258 | D | |
| Common StockF2,F3 | Mar 14, 2017 | M | 5,531 | $10.91 | A | 90,789 | D | |
| Common StockF2,F3 | Mar 14, 2017 | M | 4,428 | $10.91 | A | 95,217 | D | |
| Common StockF2,F3 | Mar 14, 2017 | M | 10,296 | $12.00 | A | 105,513 | D | |
| Common StockF2,F3 | Mar 14, 2017 | M | 16,250 | $12.00 | A | 121,763 | 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)F4,F2,F8,F7 | $8.86 | Mar 13, 2017 | M | 45,000 | D | Apr 6, 2015 | Apr 6, 2020 | Common Stock | 45,000 | 19,544 | D |
| Employee Stock Options (right to buy)F4,F7 | $8.86 | Mar 14, 2017 | M | 19,544 | D | Apr 6, 2015 | Apr 6, 2020 | Common Stock | 19,544 | 0 | D |
| Employee Stock Options (right to buy)F4,F2,F8,F7 | $10.91 | Mar 14, 2017 | M | 9,000 | D | Oct 28, 2015 | Dec 28, 2020 | Common Stock | 9,000 | 3,279 | D |
| Employee Stock Options (right to buy)F4,F7 | $9.55 | Mar 14, 2017 | M | 1,925 | D | Jul 14, 2015 | Jul 14, 2020 | Common Stock | 1,925 | 0 | D |
| Employee Stock Options (right to buy)F4,F7 | $10.91 | Mar 14, 2017 | M | 3,279 | D | Dec 28, 2015 | Dec 28, 2020 | Common Stock | 3,279 | 0 | D |
| Employee Stock Options (right to buy)F4,F7 | $10.91 | Mar 14, 2017 | M | 12,616 | D | Jan 31, 2016 | Jan 31, 2021 | Common Stock | 12,616 | 0 | D |
| Employee Stock Options (right to buy)F4,F7 | $10.91 | Mar 14, 2017 | M | 5,531 | D | Feb 28, 2016 | Feb 28, 2021 | Common Stock | 5,531 | 0 | D |
| Employee Stock Options (right to buy)F4,F7 | $10.91 | Mar 14, 2017 | M | 4,428 | D | Mar 7, 2016 | Mar 7, 2021 | Common Stock | 4,428 | 0 | D |
| Employee Stock Options (right to buy)F4,F7 | $12.00 | Mar 14, 2017 | M | 10,296 | D | Sep 17, 2016 | Sep 17, 2021 | Common Stock | 10,296 | 0 | D |
| Employee Stock Options (right to buy)F4,F7 | $12.00 | Mar 14, 2017 | M | 16,250 | D | Sep 30, 2016 | Sep 30, 2021 | Common Stock | 16,250 | 0 | 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.
- 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.
- F3Includes 26,810 Restricted Stock Units
- F4Stock Options exercised.
- F5This transaction was executed in multiple trades at prices ranging from $33.15 to $33.51. 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.
- F6Sale of Common Stock in connection with broker assisted cashless exercise of options.
- F7Exercise price adjusted to account for Stock Dividend.
- F8Under 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 a 50% increase in the trading price of the company's voting common stock.
- F9This transaction was executed in multiple trades at prices ranging from $32.82 to $33.32. 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.