SHAPIRO MARC J 4
4 · Cadence Bancorporation · Filed Oct 31, 2018
Insider Transaction Report
Form 4
SHAPIRO MARC J
Other
Transactions
- Other
Class A Common Stock, par value $0.01 per share
2018-10-29$20.86/sh+98,052$2,045,365→ 204,264 total(indirect: See footnote)
Holdings
- 147,261
Class A Common Stock, par value $0.01 per share
Footnotes (3)
- [F1]Represents the substitutions of certain assets into two grantor retrained annuity trusts ("GRAT") in return for an interest in the Shapiro CBS Partnership and corresponding beneficial ownership of a portion of the Class A Common Stock, par value $0.01 per share (the "Class A Common Stock"), held by the Shapiro CBS Partnership, such portion equivalent to 98,052 shares of Class A Common Stock, half of which the Reporting Person previously owned indirectly as the sole trustee and annuitant of the GRAT and half of which the reporting person previously owned indirectly as the sole trustee of a GRAT of which his wife was the sole annuitant (the "Substitutions"). The Substitutions resulted in a reduction of shares of Class A Common Stock owned indirectly through the GRATs but did not change the number of shares of Class A Common Stock owned through the Shapiro CBS Partnership.
- [F2]Amounts reported as beneficially owned reflect that, following the Substitutions, an interest in the Shapiro CBS Partnership, and corresponding beneficial ownership of a portion of the Class A Common Stock equivalent to 98,052 shares of Class A Common Stock in the aggregate, was transferred to two new 2018 GRATs in transactions that only resulted in a change of beneficial ownership and are exempt under Rule 16a-13.
- [F3]The Reporting Person has voting and investment control of all Class A Common Stock held by the Shapiro CBS Partnership and may be deemed to be a beneficial owner of such shares.