4//SEC Filing
PRIVATEBANCORP, INC 4
Accession 0001127602-17-004407
CIK 0000889936operating
Filed
Feb 6, 7:00 PM ET
Accepted
Feb 7, 5:45 PM ET
Size
7.7 KB
Accession
0001127602-17-004407
Insider Transaction Report
Form 4
Lubin Bruce S.
Pres. of IL Commercial Banking
Transactions
- Award
Common Stock
2017-02-03+1,986→ 130,176 total - Award
Common Stock
2017-02-03+11,089→ 141,265 total
Footnotes (2)
- [F1]Represents the minimum number of shares of common stock that have become issuable (subject to continued employment by the reporting person through the vesting date on March 1, 2018) under PSUs granted to the reporting person in March 2015. The performance period for the PSUs is 2015-2017 but the PSUs also contain a 2-year interim performance threshold. Because the Issuer's 2-year cumulative EPS performance through December 31, 2016 exceeded a pre-determined threshold, then upon vesting the reporting person is eligible to receive, at a minimum, the number of shares reported above which represents 33.5% of the target award. Based on the terms of the award, distribution of the shares underlying the PSUs will generally be deferred for an additional 2 years after vesting.
- [F2]Represents the additional number of shares of common stock that have become issuable based on achievement of a pre-established 3-year (2014-2016) EPS metric, as well as the Issuer's 3-year TSR relative to a pre-established index, under PSUs granted to the reporting person in March 2014. A further 2,231 shares of common stock issuable under the PSUs were previously reported on a Form 4, filed with the SEC on February 9, 2016, due to the Issuer's EPS performance during the first 2 years of the performance period. The Compensation Committee of the Issuer's Board of Directors certified that the Issuer achieved financial performance and TSR levels which will result in vesting of the PSUs at 200% of target on February 28, 2017, subject to continued employment by the reporting person with the Issuer to that date. Based on the terms of the award, distribution of the aggregate 13,320 shares of common stock underlying the PSUs is generally deferred for an additional 2 years after vesting.
Documents
Issuer
PRIVATEBANCORP, INC
CIK 0000889936
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0000889936
Filing Metadata
- Form type
- 4
- Filed
- Feb 6, 7:00 PM ET
- Accepted
- Feb 7, 5:45 PM ET
- Size
- 7.7 KB