SEC Form 4 · accession 0001247524-16-000324
National Commerce Corp · NCOM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Donald F Wright
Director
Period of report
Jan 4, 2016
Accepted (ET)
Jan 5, 2016 · 1:30 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 | Jan 4, 2016 | M | 958 | — | A | 958 | D | |
| Common StockF2 | Jan 4, 2016 | D | 0 | $24.13 | D | 958 | D | |
| Common Stock | holding | — | — | — | 30,746 | I | By trusts |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom Stock UnitsF1 | — | Jan 4, 2016 | M | 958 | D | Jan 4, 2016 | Jan 4, 2016 | Common Stock | 958 | 0 | D |
Explanation of responses
- F1Each of the phantom stock units was acquired through participation in the National Commerce Corporation Deferral of Compensation Plan for Key Employees and Non-Employee Directors (the "Deferral Plan") and was the economic equivalent of one share of the Issuer's common stock. The reporting person settled each of his phantom stock units for shares of the Issuer's common stock in accordance with the Deferral Plan.
- F2Represents the fraction of a share of the Issuer's common stock otherwise issuable to the reporting person for which cash was paid in lieu of the issuance of a fractional share, based on the closing price of the Issuer's common stock on Nasdaq on the transaction date.