SEC Form 4 · accession 0001209191-18-053713
SEACOAST BANKING CORP OF FLORIDA · SBCF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Juliette Kleffel
Other
Period of report
Oct 1, 2018
Accepted (ET)
Oct 3, 2018 · 3:49 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 | Oct 1, 2018 | F | 150 | $28.71 | D | 635 | D | |
| Common Stock | holding | — | — | — | 6,509 | D | ||
| Common StockF2 | holding | — | — | — | 7,550 | D | ||
| Common StockF3 | holding | — | — | — | 1,654 | D | ||
| Common StockF4 | holding | — | — | — | 667 | 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 | $31.15 | holding | — | — | — | — | Apr 2, 2028 | Common Stock | 12,635 | 12,635 | D |
| Common Stock Right to BuyF5,F6 | $28.69 | holding | — | — | — | — | Apr 3, 2027 | Common Stock | 18,078 | 18,078 | D |
| Common Stock Right to BuyF5,F7 | $15.99 | holding | — | — | — | — | Mar 31, 2024 | Common Stock | 5,253 | 5,253 | D |
Explanation of responses
- F1Represents an unvested time-based restricted stock award granted on October 1, 2016, which shall vest over 3 years in one-third increments, beginning on October 1, 2017 and on each anniversary thereafter, subject to continued employment.
- F2Represents shares of restricted stock units ("RSUs") granted on April 2, 2018. One-third of the shares vest on each of April 3, 2019, 2020 and 2021, provided the recipient remains in continuous service with the Company on each such vesting date.
- F3Represents shares of 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.
- F4Represents an unvested time-based restricted stock award granted on 4/1/2017 under Seacoast's 2013 Long-Term Incentive Plan, which shall vest over 3 years in one-third increments each anniversary of the date of grant beginning on the first anniversary of the date of grant, subject to continued employment
- F5Granted pursuant to Seacoast Banking Corporation of Florida's 2013 Incentive Plan.
- F6Vests 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.
- F7Two 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.