SEC Form 4 · accession 0001247524-18-000002
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
Dec 31, 2017
Accepted (ET)
Jan 3, 2018 · 11:29 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 | Dec 31, 2017 | F | 486 | $40.25 | D | 71,775 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents shares of common stock withheld to satisfy tax obligations in connection with the vesting and settlement of 1,289 performance share units of the issuer that were subject solely to time-based vesting ("Units"). These Units were granted to the reporting person on January 1, 2014 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, which were reported on the reporting person's previous ownership reports, vested on December 31, 2017 and were converted into shares of the issuer's common stock on a one-for-one basis.
- F2Includes 2,873 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: 1,175 Units will vest on December 31, 2018, 958 Units will vest on December 31, 2019, and 740 Units will vest on December 31, 2020. The Units are settled for an equal number of shares of the issuer's common stock on each applicable vesting date.