SEC Form 4 · accession 0001180220-16-000036
LAKELAND BANCORP INC · LBAI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward B Deutsch
Director
Period of report
Jan 7, 2016
Accepted (ET)
Jan 11, 2016 · 1:19 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000846901
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jan 7, 2016 | J | 15,944 | — | A | 66,518 | D | |
| Common Stock | holding | — | — | — | 44,842 | I | By Edward B. Deutsch Holding Trust | |
| Common Stock | holding | — | — | — | 2,782 | I | By Wife | |
| Common Stock | holding | — | — | — | 58,746 | I | By Nancy Deutsch 2014 Irrevocable Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents 15,944 shares of common stock of Lakeland Bancorp, Inc. no par value ("Lakeland Common Stock") which were recieved by Mr. Deutsch in exchange for 16,650 shares of common stock of Pascack Bancorp, Inc. no par value ("Pascack Common Stock"), formerly held by him, in connection with the merger of Pascack Bancorp, Inc. into Lakeland Bancorp, Inc.(the "Merger")
- F2On the effective date of the Merger, the closing price of Pascack Common Stock was $10.95 per share, and the closing price of Lakeland Common Stock was $11.23 per share. Pursuant to the terms of the Merger, each share of Pascack Common Stock was converted into, at the election of the holder, either 0.9576 shares of Lakeland Common Stock or $11.35 in cash, subject to proration, so that 90% of the aggregate Merger consideration consisted of shares of Lakeland Common Stock and 10% consisted of cash.