SEC Form 4 · accession 0001127602-15-007951
PRIVATEBANCORP, INC · PVTB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Larry D. Richman
Officer — President and CEO · Director
Period of report
Feb 20, 2015
Accepted (ET)
Feb 24, 2015 · 4:29 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000889936
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 20, 2015 | A | 20,658 | $35.16 | A | 148,252 | D | |
| Common Stock | holding | — | — | — | 297,702 | I | Held in Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option To Purchase Common StockF2 | $35.16 | Feb 20, 2015 | A | 25,508 | A | Mar 1, 2018 | Feb 20, 2025 | Common Stock | 25,508 | 25,508 | D |
Explanation of responses
- F1Reflects shares underlying time-vested restricted stock units (RSUs). One-third vest on March 1 of each of 2016, 2017 and 2018. 9,281 of the shares underlying vested RSUs are generally not distributable to Mr. Richman until the earliest of: March 1, 2021; his death, disability, resignation or other separation from the Issuer; or a change in control of the Issuer as defined under Section 409A under the Internal Revenue Code. The remaining 11,377 shares underlying vested RSUs are distributable to him upon his resignation or other separation from the Issuer, or, if earlier, when limitations on tax deductibility of executive compensation expense under Section 162(m) of the Internal Revenue Code no longer apply to him.
- F2Options vest 100% on March 1, 2018.