SEC Form 4 · accession 0001225208-18-008353

Delanco Bancorp, Inc. · DLNO

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — President & CEO · Director

Period of report

Apr 30, 2018

Accepted (ET)

May 1, 2018 · 4:33 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001577603

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Apr 30, 2018	D	25,734	$0.00	D	0	D
Common Stock^F1	Apr 30, 2018	D	4,583	$0.00	D	0	I	By ESOP

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Option (Right-to-Buy)^F2	$8.00	Apr 30, 2018	D	10,000	D	Oct 16, 2014	Oct 16, 2023	Common Stock	10,000	0	D

F1Disposed of pursuant to the Agreement and Plan of Reorganization, dated as of October 18, 2017, as amended on March 12, 2018, by and between First Bank ("First Bank") and Delanco Bancorp Inc. ("Delanco"), pursuant to which Delanco merged with and into FB Merger Corp., a wholly owned subsidiary of First Bank, with FB Merger Corp. continuing as the surviving entity (the "Merger"). At the effective time of the Merger (the "Effective Time"), each share of Delanco common stock issued and outstanding immediately prior to such time was converted into the right to receive 1.11 shares of First Bank common stock.
F2At the Effective Time, pursuant to the Agreement and Plan of Reorganization, dated as of October 18, 2017, as amended on March 12, 2018, by and between First Bank and Delanco Bancorp, Inc., all stock options were cancelled and the reporting person received a cash payment equal to $15.94 per share minus the applicable exercise price of such stock option multiplied by each stock option held.