SEC Form 4 · accession 0001180220-15-000020

LAKELAND BANCORP INC · LBAI

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Table I — non-derivative securities

Table II — derivative securities

Explanation of responses

• F1Represents performance-based Restricted Stock Units (RSUs), each representing the right to receive, following vesting, one share of common stock. The resulting shares acquired upon vesting of the RSUs is contingent upon the achievement of pre-established performance metrics over a 3 year period beginning 1-1-2015 and ending on 12-31-2017 (the "Performance Period"), provided that the Reporting Person remains employed by the Issuer on the date following the Performance Period that the Compensation Committee of the Issuer's Board of Directors determines that the performance goals for the final year of the Performance Period have been satisfied. If employment terminates sooner, the RSUs will be forfeited unless termination of employment occurs because of death or, subject to certain service requirements, disability or normal or early retirement, in any of which events the RSUs may vest in whole or in part. The RSUs were granted under the Issuer's 2009 Equity Compensation Program.
• F2D: Includes a total of 47,834 RSU's and 20,968 restricted shares that have not yet vested. Mr. Shara's shareholdings also include 10,180 share acquired as part of a 5% stock dividend distributed June 17, 2014. Also included are 1,904 shares held as custodian for his son, including 90 shares acquired as part of a 5% stock dividend distributed June 17, 2014. I: Includes 752 shares held by a family partnership of which Mr. Shara and his wife are general partners. In this total are 35 shares acquired as part of the 5% stock dividend distributed on June 17, 2014.