SEC Form 4 · accession 0001247524-15-000045
National Commerce Corp · NCOM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William R Ireland Jr.
Officer — NBC - EVP and CRMO
Period of report
Jan 22, 2015
Accepted (ET)
Jan 26, 2015 · 3:09 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001609951
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jan 22, 2015 | A | 1,175 | $0.00 | A | 71,499 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Grant of shares of Common Stock underlying performance share units of the issuer that are subject solely to time-based vesting ("Units"). The Units were granted to the reporting person pursuant to the National Commerce Corporation 2011 Equity Incentive Plan and such grant was exempt under Rule 16b-3(d) of the Securities Exchange Act of 1934, as amended. The Units vest on the fourth anniversary of the date of grant, or January 22, 2019, and are settled for an equal number of shares of Common Stock on the vesting date.
- F2Includes 4,948 Units that are subject to time-based vesting and vest on the fourth anniversary of the applicable date of grant, including 3,773 Units that were granted previously and inadvertently omitted from the reporting person's previous ownership reports. The Units are scheduled to vest according to the following schedule: 1,201 Units will vest on January 1, 2016, 1,283 Units will vest on January 1, 2017, 1,289 Units will vest on January 1, 2018 and 1,175 Units will vest on January 22, 2019. The Units are settled for an equal number of shares of Common Stock on each applicable vesting date.