SEC Form 4 · accession 0001180220-16-000059
LAKELAND BANCORP INC · LBAI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stewart E McClure Jr.
Officer — Reg Pres of Lakeland Bank
Period of report
Feb 24, 2016
Accepted (ET)
Feb 25, 2016 · 4:17 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 | Feb 24, 2016 | A | 12,082 | $0.00 | A | 139,955 | D | |
| Common Stock | holding | — | — | — | 1,412 | I | Held by spouse as custodian for grandchildren |
Table II — derivative securities
No Table II lines on this filing.
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 1-1-2016 and ending on 12-31-2018 (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: Total of 28,524 RSU's (including those granted 2/24/16) that have not yet vested.