SEC Form 4 · accession 0001247524-18-000109
National Commerce Corp · NCOM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John H Holcomb III
Officer — Executive Chairman · Director
Period of report
May 31, 2018
Accepted (ET)
Jun 1, 2018 · 4:37 pm EDT
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 | May 31, 2018 | M | 2,144 | — | A | 69,977 | D | |
| Common StockF2 | May 31, 2018 | F | 944 | $46.05 | D | 69,033 | D |
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 | — | May 31, 2018 | M | 2,144 | D | May 31, 2018 | May 31, 2018 | Common Stock | 2,144 | 5,500 | 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 shares of the Issuer's common stock withheld to satisfy tax obligations in connection with the settlement of phantom stock units previously deferred by the reporting person under the Deferral Plan.