Bogan Marc J 4
4 · FAUQUIER BANKSHARES, INC. · Filed Dec 21, 2020
Insider Transaction Report
Form 4
Bogan Marc J
DirectorPRESIDENT
Transactions
- Exercise/Conversion
Common Stock
2020-12-17+5,419→ 22,516.511 total - Disposition to Issuer
Common Stock
2020-12-17$17.40/sh−2,709$47,137→ 19,807.511 total - Exercise/Conversion
Performance Stock Units
2020-12-17−2,777→ 0 total→ Common Stock (2,777 underlying) - Exercise/Conversion
Performance Stock Units
2020-12-17−2,642→ 0 total→ Common Stock (2,642 underlying)
Footnotes (2)
- [F1]On December 17, 2020, the Compensation Committee (the "Committee") of the Board of Directors of Fauquier Bankshares, Inc. (the "Company") approved, effective December 17, 2020, the accelerated vesting of two performance stock unit awards previously granted to the reporting person, which were scheduled to vest on December 31, 2021 and December 31, 2022, respectively. The Committee approved the accelerated vesting in order to mitigate potential adverse tax consequences to the Company and the reporting person of Section 280G of the Internal Revenue Code, in connection with the Company's pending merger with Virginia National Bankshares Corporation. Each performance stock unit is the equivalent of one share of the Company's common stock. On December 17, 2020, 2,709 of the reporting person's performance stock units were settled for cash and the remaining 2,710 were settled for an equal number of shares of the Company's common stock.
- [F2]Includes 85.394 shares of the Company's common stock accumulated through automatic dividend reinvestment in reporting person's DRIP account since previous Form 4 filing and 67.428 shares of the Company's common stock accumulated through automatic dividend reinvestment in reporting person's ESPP account since previous Form 4 filing.