SEC Form 4 · accession 0001225208-15-001351

Beneficial Bancorp Inc. · BNCL

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Gerard P Cuddy

Officer — President & CEO · Director

Period of report

Jan 12, 2015

Accepted (ET)

Jan 14, 2015 · 7:37 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001615418

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock	Jan 12, 2015	J	36,573	$0.00	A	36,573	D
Common Stock	Jan 12, 2015	J	1,187	$0.00	A	1,187	I	By IRA
Common Stock	Jan 12, 2015	P	13,289	$10.00	A	13,289	I	By KSOP
Common Stock	Jan 12, 2015	J	10,330	$0.00	A	23,619	I	By KSOP
Common Stock^F2	Jan 12, 2015	J	8,249	$0.00	A	8,249	I	Performance Award
Common Stock^F3	Jan 12, 2015	J	16,498	$0.00	A	16,498	I	Performance Award II
Common Stock^F4	Jan 12, 2015	J	8,249	$0.00	A	8,249	I	Restricted Stock II
Common Stock^F5	Jan 12, 2015	J	1,650	$0.00	A	1,650	I	Restricted Stock III
Common Stock^F6	Jan 12, 2015	J	4,400	$0.00	A	4,400	I	Restricted Stock IV
Common Stock^F7	Jan 12, 2015	J	21,998	$0.00	A	21,998	I	Restricted Stock V
Common Stock^F8	Jan 12, 2015	J	21,998	$0.00	A	21,998	I	Restricted Stock VI
Common Stock^F9	Jan 12, 2015	J	21,998	$0.00	A	21,998	I	Restricted Stock VII

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Option (Right to Buy)^F10,F11	$8.40	Jan 12, 2015	J	82,492	A	—	Jan 17, 2023	Common Stock	82,492	82,492	D
Stock Option (Right to Buy)^F10,F12	$10.77	Jan 12, 2015	J	82,492	A	—	Feb 20, 2024	Common Stock	82,492	82,492	D
Stock Option (Right to Buy)^F10,F13	$8.82	Jan 12, 2015	J	16,498	A	—	Mar 5, 2020	Common Stock	16,498	16,498	D
Stock Option (Right to Buy)^F10,F14	$7.59	Jan 12, 2015	J	16,498	A	—	Mar 9, 2019	Common Stock	16,498	16,498	D
Stock Option (Right to Buy)^F10,F15	$8.30	Jan 12, 2015	J	82,492	A	—	Mar 23, 2022	Common Stock	82,492	82,492	D
Stock Option (Right to Buy)^F10,F16	$7.62	Jan 12, 2015	J	32,997	A	—	May 27, 2021	Common Stock	32,997	32,997	D
Stock Option (Right to Buy)^F10,F14	$10.78	Jan 12, 2015	J	219,980	A	—	Aug 6, 2018	Common Stock	219,980	219,980	D

Explanation of responses

F1Pursuant to the Plan of Conversion and Reorganization of Beneficial Savings Bank MHC, Beneficial Mutual Bancorp, Inc. and Beneficial Mutual Savings Bank, each share of common stock of Beneficial Mutual Bancorp was exchanged for 1.0999 shares of Beneficial Bancorp, Inc. common stock.
F10Pursuant to the Plan of Conversion and Reorganization, each option to purchase a share of Beneficial Mutual Bancorp common stock was converted into an option to purchase 1.0999 shares of Beneficial Bancorp common stock, rounded down to the nearest share. The exercise price was determined by dividing the exercise price of the Beneficial Mutual Bancorp option by the 1.0999 exchange ratio with such quotient rounded up to the nearest whole cent. All such options continue to vest on their original terms.
F11Stock options vest in 5 equal annual installments with the first 20% vesting on January 17, 2014, the first anniversary of the date of the grant.
F12Stock options vest in 5 equal annual installments with the first 20% vesting on February 20, 2015, the first anniversary of the date of the grant.
F13Stock options vest in 5 equal annual installments with the first 20% vesting on March 5, 2011, the first anniversary of the date of the grant.
F14Stock options are fully vested and exercisable.
F15Stock options vest in 5 equal annual installments with the first 20% vesting on March 23, 2013, the first anniversary of the date of the grant.
F16Stock options vest in 5 equal annual installments with the first 20% vesting on May 27, 2012, the first anniversary of the date of the grant.
F2The award represents shares of restricted stock which vest accordingly: if during the performance measurement period (beginning with the 12 months ended December 31, 2010 and ending with the 12 months ended December 31, 2014), the Company achieves a rate of return on average assets ("ROAA") of not less than 1% during any of those 12-month periods, then shares will begin to vest in 5 equal annual installments commencing on March 31, 2012. However, if the Company does not achieve an ROAA of not less than 1% by December 31, 2015, the performance requirement for vesting purposes will be that the Company must be ranked in the top quartile of the SNL index of thrifts nationwide with assets between $1 billion and $10 billion based on ROAA (the "SNL Index") for the 2014 fiscal year. In the event the Company is not in the top quartile of the SNL Index based on upon the Company's fiscal 2015 financial performance, then all shares subject to this award will be forfeited.
F3The award represents shares of restricted stock which vest accordingly: if during the performance measurement period (beginning with the 12 months ended December 31, 2011 and ending with the 12 months ended December 31, 2015), the Company achieves a rate of return on average assets ("ROAA") of not less than 1% during any of those 12-month periods, then shares will begin to vest in 5 equal annual installments commencing on May 27, 2013. However, if the Company does not achieve an ROAA of not less than 1% by December 31, 2016, the performance requirement for vesting purposes will be that the Company must be ranked in the top quartile of the SNL index of thrifts nationwide with assets between $1 billion and $10 billion based on ROAA (the "SNL Index") for the 2015 fiscal year. In the event the Company is not in the top quartile of the SNL Index based on upon the Company's fiscal 2016 financial performance, then all shares subject to this award will be forfeited.
F4These restricted shares vest according to the following vesting schedules: (1) 7,500 shares are subject to a three-year cliff vesting schedule whereby no shares vest on the first and second anniversaries of the award, which was March 9, 2009; 60% of the shares vest on the third anniversary of the award; and thereafter 20% of the shares each vest on the fourth and fifth anniversaries of the award; and (2) 7,500 shares will vest if certain specified performance requirements are met during the performance measurement period beginning on December 31, 2010 and ending on December 31, 2014.
F5These restricted shares vest according the the following schedule: the first 4,500 shares (representing 60% of the award) vest on March 5, 2013, the third anniversary of the date of the award, 1,500 shares (20%) vest on March 5, 2014 and the remaining 1,500 shares (20%) vest on March 5, 2015.
F6Shares of restricted stock vest at a rate of 60% commencing on May 27, 2014, the third anniversary of the date of the award, 20% vests on May 27, 2015, and the remaining 20% vests on May 27, 2016.
F7These restricted shares are subject to a three-year cliff vesting schedule whereby no shares vest on the first and second anniversaries of the award, 60% of the shares vest on March 23, 2015, the third anniversary of the award, and thereafter, 20% of the shares each vest on the fourth and fifth anniversaries of the award.
F8These restricted shares are subject to a three-year cliff vesting schedule whereby no shares vest on the first and second anniversaries of the award, 60% of the shares vest on January 17, 2016, the third anniversary of the award, and thereafter, 20% of the shares each vest on the fourth and fifth anniversaries of the award.
F9These restricted shares are subject to a three-year cliff vesting schedule whereby no shares vest on the first and second anniversaries of the award, 60% of the shares vest on February 20, 2017, the third anniversary of the award, and thereafter, 20% of the shares each vest on the fourth and fifth anniversaries of the award.

Remarks

cuddy-poa.txt