SEC Form 4 · accession 0000857855-17-000047
UNITED COMMUNITY BANKS INC · UCB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert A. Edwards
Officer — EVP, CHIEF CREDIT OFFICER
Period of report
Sep 15, 2017
Accepted (ET)
Sep 19, 2017 · 5:06 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000857855
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock (Performance Stock Units)F1 | Sep 15, 2017 | A | 3,592 | $0.00 | A | 6,092 | D | |
| Common Stock (Restricted Stock Units)F2 | Sep 15, 2017 | A | 1,540 | $0.00 | A | 26,123 | D | |
| Common Stock | holding | — | — | — | 5,308 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents the securities awarded on September 15, 2017 in the form of performance-based restricted stock units ("PSUs") that will vest on February 15, 2019, February 15, 2020, February 15, 2021 and February 15, 2022, based on the certification of achievement by the Issuer of certain targeted performance criteria, specifically Return on Assets and Return on Tangible Common Equity. Each PSU represents a contingent right to receive shares of common stock of the Issuer equal to the product of the applicable performance multiple and the target number of shares underlying the PSU, as set forth in the award agreement between the Issuer and the Reporting Person. The PSUs were issued to the Reporting Person pursuant to the Issuer's Amended and Restated 2000 Key Employee Stock Option Plan (the "Plan").
- F2Represents the securities awarded on September 15, 2017 in the form of restricted stock units ("RSUs"). The RSUs were issued to the Reporting Person pursuant to the Plan. Each RSU represents a contingent right to receive one (1) share of the Issuer's common stock. The grant vests in four (4) equal annual installments: February 15, 2019, February 15, 2020, February 15, 2021 and February 15, 2022.