SEC Form 4 · accession 0001127602-17-021304
PRIVATEBANCORP, INC · PVTB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Norman Bobins
Director
Period of report
Jun 9, 2017
Accepted (ET)
Jun 13, 2017 · 4:17 pm EDT
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 Stock | May 18, 2017 | G | 26,025 | $0.00 | D | 63,675 | D | |
| Common Stock | May 24, 2017 | G | 40,821 | $0.00 | D | 22,854 | D | |
| Common Stock | Jun 9, 2017 | M | 62,500 | $26.64 | A | 85,354 | D | |
| Common StockF1,F2 | Jun 9, 2017 | S | 29,383 | $60.45 | D | 55,971 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F4,F3 | $26.64 | Jun 9, 2017 | M | 62,500 | D | — | Jul 7, 2018 | Common Stock | 62,500 | 0 | D |
Explanation of responses
- F1These shares were sold in connection with the stock option exercise reported on this form in order to pay the exercise price and related tax obligations upon exercise.
- F2Reflects the weighted average sales price of multiple transactions reported on this line. The shares were sold at prices that ranged from $60.31 to $60.52. Upon request of the SEC staff, the issuer or a security holder of the issuer, the reporting person will provide information regarding the number of shares sold at each separate price.
- F3Options were granted on July 7, 2008. One-half, or 50,000, of the stock options were subject to time-vesting requirements and vested in equal portions on each December 31 of the years 2008, 2009, and 2010. The remaining 50,000 stock options vested in equal portions over five years subject to the achievement of specific performance targets.
- F4Of the 100,000 options originally granted in 2008, 50,000 vested based on time-vesting requirements and 12,500 of the total 50,000 performance-vested options vested due to the reporting person remaining on the board through December 31, 2012, pursuant to the terms of the options providing for minimum vesting at 25%. The remaining 37,500 performance-vested options did not vest due to failure to achieve specific performance targets.