SEC Form 4 · accession 0001225208-18-008357
Delanco Bancorp, Inc. · DLNO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James W Verner
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 StockF1 | Apr 30, 2018 | D | 3,535 | $0.00 | D | 0 | D | |
| Common StockF1 | Apr 30, 2018 | D | 3,000 | $0.00 | D | 0 | I | By IRA |
| Common StockF1 | Apr 30, 2018 | D | 2,404 | $0.00 | D | 0 | I | By Spouse IRA |
Table II — derivative securities
| 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 | 1,000 | D | Oct 16, 2014 | Oct 16, 2023 | Common Stock | 1,000 | 0 | D |
Explanation of responses
- 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.