SEC Form 4 · accession 0001209191-17-025751
SEACOAST BANKING CORP OF FLORIDA · SBCF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles K Cross Jr.
Other
Period of report
Apr 3, 2017
Accepted (ET)
Apr 5, 2017 · 5:16 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 | 8,782 | $23.91 | A | 8,782 | D | |
| Common StockF2 | holding | — | — | — | 17,869 | D | ||
| Common StockF3 | holding | — | — | — | 976 | D | ||
| Common Stock | holding | — | — | — | 9,484 | 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 BuyF4,F5 | $23.91 | Apr 3, 2017 | A | 24,738 | A | — | Apr 3, 2027 | Common Stock | 24,738 | 24,738 | D |
| Common Stock Right to BuyF4,F6 | $14.82 | holding | — | — | — | — | Feb 28, 2024 | Common Stock | 24,561 | 24,561 | D |
| Common Stock Right to BuyF4,F7 | $12.63 | holding | — | — | — | — | Jan 29, 2023 | Common Stock | 9,875 | 9,875 | D |
| Common Stock Right to BuyF4,F8 | $10.54 | holding | — | — | — | Apr 29, 2015 | Apr 29, 2024 | Common Stock | 25,000 | 25,000 | D |
| Common Stock Right to BuyF4,F9 | $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.
- F2Represents shares subject to performance-based restricted stock units ("PSUs") granted on June 28, 2013 and on August 1, 2014, that were subject to performance requirements which were attained over a period ending December 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.
- F3Represents an unvested time-based restricted stock award granted on 4/1/2013 under Seacoast's 2000 Long-Term Incentive Plan which shall vest in 25 percent increments beginning on the second anniversary of the date of the grant, and each of three anniversaries thereafter, subject to continued employment.
- F4Granted pursuant to the Company's Amended and Restated 2013 Incentive Plan.
- F5Vests 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.
- F6Originally 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.
- F7Originally had two tiered vesting. Performance criteria was 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.
- F8Vests 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.
- F9Vests over 5 years at the rate of 20 percent 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 continued employment.