4//SEC Filing
SHIVERS GARY R 4
Accession 0001209191-04-040497
CIK 0001260968other
Filed
Aug 11, 8:00 PM ET
Accepted
Aug 12, 8:05 AM ET
Size
15.4 KB
Accession
0001209191-04-040497
Insider Transaction Report
Form 4
SHIVERS GARY R
DirectorPresident
Transactions
- Sale
Common Stock
2004-08-11$15.12/sh−3,075$46,492→ 295,409 total
Holdings
- 31,500
Option to Purchase Common Stock
Exercise: $1.91From: 2001-10-01Exp: 2007-10-01→ Common Stock (31,500 underlying) - 6,650
Option to Purchase Common Stock
Exercise: $10.18From: 2007-01-13Exp: 2013-01-13→ Common Stock (6,650 underlying) - 7,000
Option to Purchase Common Stock
Exercise: $3.39From: 2007-01-13Exp: 2013-01-13→ Common Stock (7,000 underlying) - 15,000
Option to Purchase Common Stock
Exercise: $18.80From: 2012-01-29Exp: 2014-01-28→ Common Stock (15,000 underlying) - 51,240
Option to Purchase Common Stock
Exercise: $10.18From: 2005-10-04Exp: 2011-10-04→ Common Stock (51,240 underlying) - 14,000
Option to Purchase Common Stock
Exercise: $3.39From: 2006-01-17Exp: 2012-01-17→ Common Stock (14,000 underlying) - 28,000
Option to Purchase Common Stock
Exercise: $4.23From: 2004-04-03Exp: 2010-04-03→ Common Stock (28,000 underlying)
Footnotes (5)
- [F1]The sale of shares of Marlin Business Services Corp. reported on this Form 4 was executed pursuant to a written plan adopted by the reporting person on May 10, 2004, that is intended to comply with Rule 10b5-1(c) of the Securities and Exchange Act of 1934.
- [F2]Represents average sales price per share.
- [F3]Includes 24,795 shares of restricted stock awarded to the reporting person pursuant to the Marlin Business Services Corp. 2003 Equity Compensation Plan. The reporting person elected to allocate 75% of his target bonus for 2004, 2005 and 2006 to restricted stock (in lieu of cash). The number of shares was determined using the closing price of $15.88 on the award date (March 9, 2004).
- [F4]Date listed is date of scheduled full vesting. This grant vests over an eight year period at the following annual increments: 2.5% in first year; 5.0% in second year; 7.5% in third year; 10.0% in fourth year; 15.0% in fifth year; and 20.0% in each of the sixth, seventh and eighth years. Vesting can be accelerated upon the reporting person's achievement of certain performance goals set forth in the grant instrument.
- [F5]Date listed is the date of full vesting. Each grants vests 25% per year beginning on the first anniversary of the date of grant.
Documents
Issuer
MARLIN BUSINESS SERVICES CORP
CIK 0001260968
Entity typeother
Related Parties
1- filerCIK 0001268539
Filing Metadata
- Form type
- 4
- Filed
- Aug 11, 8:00 PM ET
- Accepted
- Aug 12, 8:05 AM ET
- Size
- 15.4 KB