4//SEC Filing
1st Pacific Bancorp 4
Accession 0001104659-07-086796
CIK 0001380712operating
Filed
Dec 3, 7:00 PM ET
Accepted
Dec 4, 1:53 PM ET
Size
7.4 KB
Accession
0001104659-07-086796
Insider Transaction Report
Form 4
1st Pacific BancorpOTCBB-FPBN
Burgess James H
EVP & CFO
Transactions
- Award
2007 Omnibus Stock Incentive Plan (right to buy)
2007-11-30+20,000→ 20,000 totalExercise: $10.00Exp: 2017-11-30→ Common Stock (20,000 underlying)
Footnotes (2)
- [F1]Vesting is subject to a performance-based graded vesting schedule that annually measures return on average equity ("ROAE") of 1st Pacific Bank of California, the wholly-owned subsidiary of 1st Pacific Bancorp (the "Bank") for a performance period against ROAE of a comparative group for that same performance period. A maximum of 4,000 shares can become vested for any single performance period and any unvested shares that do not become vested for a performance period are rolled forward for possible vesting in a subsequent performance period. 4,000 shares will vest upon determination that the Bank's ROAE is equal to or greater than the ROAE at the top of the lower 33rd percentile of members of the comparative group during 2008. 4,000 shares will vest upon determination that the Bank's ROAE is equal to or greater than the ROAE at the top of the 50th percentile of members of the comparative group during 2009.
- [F2]4,000 shares will vest upon determination that the Bank's ROAE is equal to or greater than the ROAE at the top of the 50th percentile of members of the comparative group during 2010. 4,000 shares will vest upon determination that the Bank's ROAE is equal to or greater than the ROAE at the top of the 50th percentile of members of the comparative group during 2011. 4,000 shares will vest upon determination that the Bank's ROAE is equal to or greater than the ROAE at the top of the 50th percentile of members of the comparative group during 2012. Any remaining options that have not vested, limited to 4,000 per calendar year, will vest upon determination that the Bank's ROAE is equal to or greater than the ROAE at the top of the 50th percentile of members of the comparative group during a calendar year.
Documents
Issuer
1st Pacific Bancorp
CIK 0001380712
Entity typeoperating
IncorporatedCA
Related Parties
1- filerCIK 0001380712
Filing Metadata
- Form type
- 4
- Filed
- Dec 3, 7:00 PM ET
- Accepted
- Dec 4, 1:53 PM ET
- Size
- 7.4 KB