SEC Form 4 · accession 0001247524-18-000009
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 16, 2018
Accepted (ET)
Jan 17, 2018 · 9:35 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 16, 2018 | A | 546 | $0.00 | A | 3,919 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Grant of shares of the issuer's 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 16, 2018 pursuant to the National Commerce Corporation 2017 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, 2021 and are to be settled for an equal number of shares of the issuer's common stock on the vesting date.
- F2Includes 2,696 Units that are subject to time-based vesting according to the following schedule: 1,014 Units will vest on December 31, 2018, 598 Units will vest on December 31, 2019, 538 Units will vest on December 31, 2020, and 546 Units will vest on December 31, 2021. The Units are settled for an equal number of shares of the issuer's common stock on each applicable vesting date.