SEC Form 4 · accession 0001247524-16-000341
National Commerce Corp · NCOM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Shelly S Williams
Officer — SVP and CAO
Period of report
Jan 26, 2016
Accepted (ET)
Jan 28, 2016 · 9:47 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 | 598 | $0.00 | A | 3,273 | D | |
| Common StockF3,F4 | Jan 26, 2016 | F | 130 | $21.42 | D | 3,143 | 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 2,175 Units that were granted previously and inadvertently omitted from the reporting person's previous ownership reports.
- F3Units withheld to satisfy tax obligations in connection with the vesting of 343 Units on December 31, 2015 that were granted previously and inadvertently omitted from the reporting person's previous ownership reports, which vesting was certified by the compensation committee on January 26, 2016.
- F4Includes 2,430 Units that are subject to time-based vesting and vest on the fourth anniversary of the applicable effective date of grant: 367 Units will vest on December 31, 2016, 451 Units will vest on December 31, 2017, 1,014 Units will vest on December 31, 2018 and 598 Units will vest on December 31, 2019.