SEC Form 4 · accession 0001127602-17-021514
PRIVATEBANCORP, INC · PVTB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Karen B. Case
Officer — President of CRE Banking
Period of report
Jun 15, 2017
Accepted (ET)
Jun 15, 2017 · 5:12 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 | Jun 15, 2017 | M | 78,125 | $26.10 | A | 186,136 | D | |
| Common StockF1 | Jun 15, 2017 | S | 78,125 | $60.17 | D | 108,011 | 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)F3,F2 | $26.10 | Jun 15, 2017 | M | 78,125 | D | — | Nov 1, 2017 | Common Stock | 78,125 | 0 | D |
Explanation of responses
- F1Reflects the weighted average sales price of multiple transactions reported on this line. The shares were sold at prices that ranged from $60.05 to $60.31. 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.
- F2Options were granted November 1, 2007. Fifty percent were scheduled to vest upon achievement of specific performance targets. The remaining 50% vested 20% every year on the anniversary of the date of grant and became fully vested after five years.
- F3Of the 125,000 options originally granted in 2007, 62,500 vested based on time-vesting requirements and 15,625 of the total 62,500 performance-vested options vested pursuant to the terms of the options providing for minimum vesting at 25%. The remaining 46,875 performance-vested options did not vest due to failure to achieve specific performance targets.