SEC Form 4 · accession 0001247524-16-000340
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 26, 2016
Accepted (ET)
Jan 28, 2016 · 9:46 am 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 26, 2016 | A | 958 | $0.00 | A | 72,457 | D | |
| Common StockF3,F2 | Jan 26, 2016 | F | 453 | $21.42 | D | 72,004 | 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"). These Units were granted to the reporting person on January 26, 2016 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. These Units vest on December 31, 2019 and are to be settled for an equal number of shares of Common Stock on the vesting date.
- F2Includes 4,705 Units that are subject to time-based vesting and vest on the fourth anniversary of the applicable effective date of grant. The Units are scheduled to vest according to the following schedule: 1,283 Units will vest on December 31, 2016, 1,289 Units will vest on December 31, 2017, 1,175 Units will vest on December 31, 2018, and 958 Units will vest on December 31, 2019. The Units are settled for an equal number of shares of Common Stock on each applicable vesting date.
- F3Units withheld to satisfy tax obligations in connection with the vesting of 1,201 Units on December 31, 2015, which vesting was certified by the compensation committee on January 26, 2016.