SEC Form 4 · accession 0001209191-16-139377
SEACOAST BANKING CORP OF FLORIDA · SBCF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen A Fowle
Officer — EVP & Chief Financial Officer
Period of report
Aug 31, 2016
Accepted (ET)
Sep 1, 2016 · 1:17 pm EDT
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 StockF2 | Aug 31, 2016 | J | 451 | $16.45 | A | 451 | D | |
| Common StockF3 | holding | — | — | — | 34,223 | D | ||
| Common StockF4 | holding | — | — | — | 16,855 | D |
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 BuyF5,F6 | $14.82 | holding | — | — | — | — | Feb 28, 2024 | Common Stock | 14,170 | 14,170 | D |
Explanation of responses
- F1Acquisition of shares in Seacoast Stock Fund in Company's Retirement Savings Plan
- F2Held in Company's Retirement Savings Plan
- F3Represents unvested shares in a time-based restricted stock award granted under Seacoast's 2013 Long-Term Incentive Plan on May 12, 2015 ("Grant Date"). As long as Mr. Fowle remains employed by the Company, one-half of these shares shall vest on March 15, 2017, and the remaining shares shall vest on March 15, 2018.
- F4Held jointly with spouse
- F5Granted pursuant to Seacoast Banking Corporation of Florida's 2013 Incentive Plan
- F6Two tiered vesting. First, performance vesting must be met which requires that: 1) the market price of Seacoast common stock increase 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.