SEC Form 4 · accession 0001209191-15-059005
HUDSON VALLEY HOLDING CORP · HVB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott J. Skorobohaty
Other
Period of report
Jun 30, 2015
Accepted (ET)
Jul 2, 2015 · 5:15 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000722256
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jun 30, 2015 | F | 1,335 | — | D | 2,315 | D | |
| Common StockF3 | Jun 30, 2015 | D | 2,315 | — | D | 0 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Accelerated vesting of the 3,650 shares of Restricted Stock scheduled to vest 100% on 12/31/2017. The vesting of these shares was accelerated on June 30, 2015 in connection with the consummation of the merger of the Issuer with and into Sterling Bancorp. Of the 3,650 shares that vested, 1,335 shares were withheld for the payment of taxes.
- F2Price calculated as the product of (i) the market value of $14.714 per share of Sterling Bancorp common stock on the effective date of the merger (with such market value calculated as the average of the closing sales price of Sterling Bancorp common stock on the New York Stock Exchange for the five trading days ending on the day preceding the closing date of the merger (the "Market Value of Sterling Common Stock")) multipled by (ii) the exchange ratio of 1.92 shares of Sterling Bancorp common stock for each share of Issuer common stock.
- F3Disposed of pursuant to the Merger Agreement in exchange for 4,444 shares of Sterling Bancorp common stock having a market value of $14.714 per share on the effective date of the merger (with such market value calculated as the Market Value of Sterling Common Stock) and cash of $11.77 in lieu of a fractional share of Sterling Bancorp common stock.