SEC Form 4 · accession 0001628280-17-007263
BAR HARBOR BANKSHARES · BHB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard B Maltz
Officer — EVP, COO & Chief Risk Officer
Period of report
Jul 24, 2017
Accepted (ET)
Jul 25, 2017 · 5:55 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000743367
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jul 24, 2017 | M | 521 | $0.00 | A | 3,146 | D | |
| Common StockF1 | Jul 24, 2017 | M | 1,629 | $0.00 | A | 4,775 | D | |
| Common StockF2 | Jul 24, 2017 | F | 676 | $29.10 | D | 4,099 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Units (RSUs) 2014 - 2016 Plan (Plan B)F3,F4,F5 | $0.00 | Jul 24, 2017 | M | 521 | D | — | — | Common Stock | 521 | 0 | D |
| Restricted Stock Units (RSUs) 2014 - 2016 Plan (Plan B)F6,F4,F7 | $0.00 | Jul 24, 2017 | M | 1,629 | D | — | — | Common Stock | 1,629 | 0 | D |
Explanation of responses
- F1Upon vesting, each restricted stock unit was converted into one share of BHB Common Stock based on the closing price of July 21, 2017, the last trading day before the vesting date.
- F2These shares were withheld to satisfy the executive's tax liability associated with the vesting of restricted stock units. This was not an open market sale of securities.
- F3Represents the number of time-vested Restricted Stock Units remaining for the 2014-2016 Long Term Incentive Plan (Plan B).
- F4Each restricted stock unit represents a contingent right to receive one share of BHB Common Stock.
- F5On September 23, 2014, the reporting person was granted 1,111 time-based Restricted Stock Units, vesting in three pro-rated installments beginning on July 22, 2015. Upon promotion, Mr. Maltz was awarded an additional 44 shares on September 28, 2016 for vesting at the final installment of this plan.
- F6Represents the number of performance-vested Restricted Stock Units remaining for the 2014-2016 Long Term Incentive Plan (Plan B).
- F7These Restricted Stock Units were granted on September 23, 2014, with additional shares granted upon Mr. Maltz's September 2016 promotion, to vest in full on July 22, 2017.