SEC Form 4 · accession 0001225208-18-001649
Beneficial Bancorp Inc. · BNCL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph V Canosa
Officer — SVP--Chief Credit Officer
Period of report
Jan 25, 2018
Accepted (ET)
Jan 26, 2018 · 4:33 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 StockF1 | Jan 25, 2018 | A | 4,955 | $0.00 | A | 4,955 | I | Restricted Stock XII |
| Common Stock | holding | — | — | — | 4,240 | D | ||
| Common Stock | holding | — | — | — | 439 | I | By IRA | |
| Common Stock | holding | — | — | — | 3,068 | I | By KSOP | |
| Common StockF2 | holding | — | — | — | 5,000 | I | Restricted Stock IX | |
| Common Stock | holding | — | — | — | 6,500 | I | Restricted Stock VIII | |
| Common StockF3 | holding | — | — | — | 13,333 | I | Restricted Stock X | |
| Common StockF4 | holding | — | — | — | 2,834 | I | Restricted Stock XI |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Of the 4,955 shares granted 2,973 shares will fully vest on January 25, 2021 upon the satisfaction of company performance criteria related to credit quality, return on average assets and total shareholder return. The remaining 1,982 shares are subject to vesting in 3 equal annual installments with the first 33 1/3% vesting on January 25, 2019, the first anniversary of the date of the award.
- F2These 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 28, 2019, the third anniversary of the award, and thereafter, 20% of the shares each vest on the fourth and fifth anniversaries of the award.
- F3Shares of restricted stock vest in 3 equal annual installments with the first 33 1/3% vesting on June 9, 2017, the first anniversary of the date of the award.
- F4Shares of restricted stock vest in 3 equal annual installments with the first 33 1/3% vesting on January 26, 2018, the first anniversary of the date of the award.