SEC Form 4 · accession 0001209191-16-104512

SEACOAST BANKING CORP OF FLORIDA · SBCF

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

Reporting owner

Dennis S Hudson III

Officer — Chairman & CEO · Director

Period of report

Feb 29, 2016

Accepted (ET)

Mar 2, 2016 · 4:34 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000730708

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Feb 29, 2016	A	64,180	$0.00	A	64,180	D
Common Stock	holding	—	—		—	20	D
Common Stock^F2	holding	—	—		—	21,915	D
Common Stock^F3	holding	—	—		—	19,868	D
Common Stock^F4	holding	—	—		—	30,934	D
Common Stock^F5	holding	—	—		—	49,386	D
Common Stock	holding	—	—		—	224,356	I	Held by Sherwood Partners, Ltd, family partnership
Common Stock	holding	—	—		—	280	I	Held by Spouse as Custodian for son
Common Stock	holding	—	—		—	20	I	Held by son

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Common Stock Right to Buy^F6,F7	$14.82	Feb 29, 2016	A	51,956	A	—	Feb 28, 2024	Common Stock	51,956	51,956	D
Common Stock Right to Buy^F6,F8	$12.63	holding	—	—	—	—	Jan 28, 2023	Common Stock	17,975	17,975	D
Common Stock Right to Buy^F6,F9	$10.54	holding	—	—	—	Apr 29, 2015	Apr 29, 2024	Common Stock	50,000	50,000	D
Common Stock Right to Buy^F6,F10	$11.00	holding	—	—	—	Jun 28, 2014	Jun 27, 2023	Common Stock	19,400	19,400	D
Stock-settled Stock Appreciation Rights^F11,F12	$111.10	holding	—	—	—	Apr 2, 2012	Apr 1, 2017	Common Stock	14,627	14,627	D
Stock-settled Stock Appreciation Rights^F11,F12	$133.60	holding	—	—	—	May 16, 2011	May 15, 2016	Common Stock	5,520	5,520	D

Explanation of responses

F1Represents shares subject to performance-based restricted stock units ("PSUs") granted on June 28, 2013, that were subject to performance requirements over a period ending December 31, 2015. On Feb. 29, 2016, the Company's Compensation Committee certified the number of shares attained based on the performance criteria. These shares now vest in one-third increments each year on Dec. 31, 2016, 2017 and 2018, provided the recipient remains in continuous service with the Company on each such vesting date.
F10Vests over 5 years at the rate of 20% on the first anniversary of the date of grant (the date indicated) and then at the rate of 20% on each of the following four anniversaries thereafter, subject to continue employment.
F11Granted pursuant to Seacoast Banking Corporation of Florida's 2000 Long-Term Incentive Plan
F12Date fully vested
F2Shares held in Trust
F3Represents unvested shares in performance based restricted stock award granted under Seacoast's 2008 Long-Term Incentive Plan on August 23, 2011. These awards will vest in their entirety on August 23, 2016.
F4Represent shares held in the Company's Retirement Savings Plan as of December 31, 2015
F5Shares held jointly with spouse
F6Granted pursuant to Seacoast Banking Corporation of Florida's 2013 Incentive Plan
F7Two tiered vesting. First, performance vesting must be met which requires that: 1) the market price of Seacoast common stock increases to 120% or more of the exercise price; and 2) Seacoast's Tier 1 Capital must be equal to or greater than the regulatory standard. Once performance criteria is met, option shall vest in equal installments at the end of each month over the next 48 months, provided that Optionee remains in Continuous Service on each applicable vesting date.
F8Two tiered vesting. Performance criteria met and time-based vesting began on 7/1/15. Option vests in equal installments at the end of each month over the next 48 months, provided that Optionee remains in Continuous Service on each applicable vesting date.
F9Vests over 3 years in one-third increments each anniversary of the date of grant beginning on the first anniversary of the date of grant (the date indicated), subject to continued employment.