SEC Form 4 · accession 0001209191-17-025747
SEACOAST BANKING CORP OF FLORIDA · SBCF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles M Shaffer
Other
Period of report
Apr 3, 2017
Accepted (ET)
Apr 5, 2017 · 5:14 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 StockF1 | Apr 3, 2017 | A | 10,832 | $23.91 | A | 10,832 | D | |
| Common StockF2 | holding | — | — | — | 1,569 | D | ||
| Common StockF3 | holding | — | — | — | 16,338 | D | ||
| Common Stock | holding | — | — | — | 7,491 | D | ||
| Common StockF4 | holding | — | — | — | 806 | D | ||
| Common StockF5 | holding | — | — | — | 1,571 | 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 BuyF6,F7 | $23.91 | Apr 3, 2017 | A | 28,544 | A | — | Apr 3, 2027 | Common Stock | 28,544 | 28,544 | D |
| Common Stock Right to BuyF6,F8 | $14.82 | holding | — | — | — | — | Feb 28, 2024 | Common Stock | 21,255 | 21,255 | D |
| Common Stock Right to BuyF6,F9 | $12.63 | holding | — | — | — | — | Jan 28, 2023 | Common Stock | 8,100 | 8,100 | D |
| Common Stock Right to BuyF6,F10 | $10.54 | holding | — | — | — | Apr 29, 2015 | Apr 29, 2024 | Common Stock | 25,000 | 25,000 | D |
| Common Stock Right to BuyF6,F11 | $11.00 | holding | — | — | — | Jun 28, 2014 | Jun 28, 2023 | Common Stock | 2,400 | 2,400 | D |
Explanation of responses
- F1Represents shares subject to performance-contingent restricted stock units ("RSUs") granted on April 3, 2017. One-third of the shares vest on each of April 3, 2018, 2019 and 2020, provided the recipient remains in continuous service with the Company on each such vesting date and the Company's banking subsidiary meets certain capital requirements.
- F10Vests 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), and then at the rate of 20% on each of the following two anniversaries thereafter 20%, subject to continued employment.
- F11Vests over 5 years at the rate of 20% on the first anniversary of the date of grant and then at the rate of 20% on each of the following four anniversaries thereafter, subject to continued employment.
- F2Shares in the Company's Employee Stock Purchase Plan.
- F3Represents shares subject to performance-based restricted stock units ("PSUs") granted on June 28, 2013, that were subject to performance requirements which were attained over a period ending Dec. 31, 2015. One-third of the earned shares vested on Dec. 31, 2016. Of the remaining shares, half vest on each of Dec. 31, 2017 and 2018, provided the recipient remains in continuous service with the Company on each such vesting date.
- F4Share equivalents held in Company's Retirement Savings Plan as of August 31, 2016
- F5Held jointly with spouse
- F6Granted pursuant to the Company's Amended and Restated 2013 Incentive Plan.
- F7Vests 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 continuous employment on each vesting date and the Company's banking subsidiary meets certain capital requirements.
- F8Originally had two tiered vesting. Performance criteria was met and time-based vesting began on 12/1/2016. 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.
- F9Originally had two tiered vesting. Performance vesting criteria has been met and time-based vesting began on 7/1/2015. Option vests in equal installments over the next 48 months, provided the Optionee remains in continuous service on each applicable vesting date.