SCHWARZ RONALD E 4
4 · LAKELAND BANCORP INC · Filed Feb 26, 2021
Insider Transaction Report
Form 4
SCHWARZ RONALD E
EVP & Chief Retail Officer
Transactions
- Award
Common Stock
2021-02-24+25,097→ 110,432 total
Footnotes (2)
- [F1]The above transaction represents the Executive's annual incentive award for FYE 2020. The award is time-based Restricted Stock Units (RSUs) issued under the Issuer's 2018 Omnibus Equity Incentive Plan (Plan). The RSUs each represent the right to receive, following vesting, one share of common stock. One-third (1/3rd) of the RSUs shall become vested on each annual anniversary of the Transaction Date provided that the Executive remains in Continuous Service (as defined in the Plan) through each respective anniversary/vesting date. If such Continuous Service terminates sooner, the RSUs will be forfeited unless such termination of Continuous Service occurs because of death, disability, normal or early retirement, or a change in control event.
- [F2]Represents a total of 56,706 RSU's that have not yet vested.