SEC Form 4 · accession 0001104659-16-112202
MERCHANTS BANCSHARES INC · MBVT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Raymond C Pecor III
Director
Period of report
Apr 14, 2016
Accepted (ET)
Apr 18, 2016 · 8:02 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000726517
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Apr 14, 2016 | A | 266 | $29.52 | A | 15,752 | D | |
| Common StockF3 | holding | — | — | — | 7,043 | I | By Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents shares of common stock underlying phantom stock units granted in accordance with the terms of the Issuer's 2008 Compensation Plan for Non-Employee Directors and Trustees (the "Plan"). Each phantom stock unit represents a contingent right to receive one share of the Issuer's common stock. The shares of phantom stock will become payable in common stock in seven equal annual installments commencing on the Reporting Person's 65th birthday and are subject to partial forfeiture by the Reporting Person, all as more fully described in the Plan.
- F2Includes phantom stock units granted to the Reporting Person pursuant to the Plan that have not previously been reported.
- F3The Reporting Person disclaims beneficial ownership of these securities, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or any other purpose.