SEC Form 4 · accession 0001127602-16-042720
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 19, 2016
Accepted (ET)
Feb 22, 2016 · 5:13 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,F2 | Feb 19, 2016 | A | 28,567 | $0.00 | A | 493,280 | D |
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 StockF3 | $34.13 | Feb 19, 2016 | A | 33,722 | A | Mar 1, 2019 | Feb 19, 2026 | Common Stock | 33,722 | 33,722 | D |
Explanation of responses
- F1Reflects shares underlying time-vested restricted stock units (RSUs). One third vest on March 1 of each of 2017, 2018 and 2019. 12,452 of the shares underlying vested RSUs are generally not distributable to Mr. Richman until the earliest of: March 1, 2022; his death or disability; an involuntary separation from the Issuer subsequent to a change in control; or a change in control of the Issuer as defined under Section 409A under the Internal Revenue Code. The remaining 16,115 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.
- F2Includes 293 shares allocated to the reporting person's account under the Issuer's Savings and Retirement Plan as of February 19, 2016.
- F3Options vest 100% on March 1, 2019.