GILBERT A DOUGLAS 4
4 · SEACOAST BANKING CORP OF FLORIDA · Filed Nov 19, 2008
Insider Transaction Report
Form 4
GILBERT A DOUGLAS
DirectorPres. & Chief Operating Off.
Transactions
- Other
Common Stock
2008-11-17−3,500→ 8,700 total - Tax Payment
Common Stock
2008-11-17$6.12/sh−926$5,667→ 7,774 total - Gift
Common Stock
2008-11-17−2,574→ 5,200 total
Holdings
- 19,820
Common Stock
- 33,543
Common Stock
- 3,760
Common Stock
- 48,000
Common Stock
- 9,139.337
Common Stock
Footnotes (8)
- [F1]Disposition of stock option awards to ex-wife by legal decree under divorce agreement
- [F2]Represents unvested shares in a time based restricted stock award granted on 12/21/2004 under Seacoast's 2000 Long-Term Incentive Plan which shall vest, subject to continued employment, in 2,600 share increments on each aniversary of the date of grant.
- [F3]Vested restricted stock gifted to wife
- [F4]Held jointly with spouse
- [F5]Represents unvested time-based restricted stock awards granted under Seacoast's 2000 Long-Term Incentive Plan which vest in 25% increments beginning on the second anniversary of the date of grant, and each of the three anniversaries thereafter, subject to continued employment.
- [F6]Held in IRA
- [F7]35,000 shares represent a performance based restricted stock award granted under Seacoast's 2000 Long-Term Incentive Plan which shall vest, subject to continued employment, over a 5-year performance period beginning January 1, 2004. Another 13,000 shares represent a restricted stock award granted under Seacoast's 2000 Long-Term Incentive Plan which shall vest, subject to continued employment, over a 5-year performance period beginning January 1, 2005. Both restricted stock awards vest based on achievement of EPS targets compared to the prior fiscal year. 38% EPS growth = 25% vesting; 50% EPS growth = 50% vesting, 75% EPS growth = 75% vesting; 85% EPS growth = 100% vesting. Notwithstanding the above schedule, 100% of the performance based awards shall vest on the fifth anniversary of the grant date if the Company achieves an ROE of at least 16.5% for 3 consecutive quarters during the performance period, regardless of whether the EPS targets are met.
- [F8]Represents shares held in the Company's Profit Sharing Plan as of September 30, 2008.