4//SEC Filing
Matteson Timothy J 4
Accession 0001062993-24-004219
CIK 0000846901other
Filed
Feb 22, 7:00 PM ET
Accepted
Feb 23, 3:34 PM ET
Size
7.8 KB
Accession
0001062993-24-004219
Insider Transaction Report
Form 4
Matteson Timothy J
SVP and General Counsel
Transactions
- Award
Common Stock
2024-02-21+11,706→ 108,767 total - Award
Common Stock
2024-02-21+11,706→ 120,473 total
Footnotes (3)
- [F1]The above transaction represents the Executive's 2024 Restricted Stock Units (RSUs) awarded under the Issuer's 2018 Omnibus Equity Incentive Plan (Plan) and right to receive, following vesting, one share of common stock. 1/3rd of the time-based RSUs shall become vested on February 27 of each of the following 3 years provided that the Executive remains in Continuous Service (as defined in the Plan) through each respective vesting date, subject to forfeiture upon termination, other than for death, disability, normal or early retirement. In the event of a change in control in 2024 followed by a qualifying termination of employment, the RSUs will vest pro-rata determined by multiplying (i) the number of unvested RSUs by (ii) a fraction, the numerator of which shall be the number of months that have elapsed between the grant date and the change in control date and the denominator which shall be 12.
- [F2]2. The above transaction represents the Executive's 2024 Performance-Based Stock Units (PSUs) awarded under the Plan and right to receive, following vesting, one share of common stock. The award is subject to goals based on the Company's return on average equity and may be adjusted upward or downward based on the Company's total shareholder return compared to peer performance. The PSUs shall become vested on February 27, 2027 provided that the Executive remains in Continuous Service through the vesting date and may be forfeited upon termination other than for death, disability, normal or early retirement. Vesting of the PSUs in the event of a change in control shall following the same approach as the Executive???s 2024 RSU award. In the event of a change in control followed by continued employment, the PSUs will convert to time-vested awards and vest ratably over three years.
- [F3]Includes 65,810 Restricted and Performance Stock Units that have not yet vested.
Issuer
LAKELAND BANCORP INC
CIK 0000846901
Entity typeother
Related Parties
1- filerCIK 0001314720
Filing Metadata
- Form type
- 4
- Filed
- Feb 22, 7:00 PM ET
- Accepted
- Feb 23, 3:34 PM ET
- Size
- 7.8 KB