LAKELAND BANCORP INC 4
4 · LAKELAND BANCORP INC · Filed Feb 24, 2017
Insider Transaction Report
Form 4
HURLEY JOSEPH
EVP and CFO
Transactions
- Award
Common Stock
2017-02-22+7,905→ 48,511 total
Footnotes (2)
- [F1]Represents performance-based Restricted Stock Units (RSUs), each representing the right to receive, following vesting, one share of common stock. The resulting shares acquired upon vesting of the RSUs is contingent upon the achievement of pre-established performance metrics over a 3 year period beginning 1-1-2017 and ending on 12-31-2019 (the "Performance Period"), provided that the Reporting Person remains employed by the Issuer on the date following the Performance Period that the Compensation Committee of the Issuer's Board of Directors determines that the performance goals for the final year of the Performance Period have been satisfied. If employment terminates sooner, the RSUs will be forfeited unless termination of employment occurs because of death or, subject to certain service requirements, disability or normal or early retirement, in any of which events the RSUs may vest in whole or in part. The RSUs were granted under the Issuer's 2009 Equity Compensation Program.
- [F2]D: Represents a total of 36,076 RSU's that have not yet vested including those acquired on 2/22/17. Also includes 705 shares subject to restricted stock award that has not yet vested.