4//SEC Filing
NAQVI NAQI A 4
Accession 0001214659-22-000539
CIK 0001141807other
Filed
Jan 9, 7:00 PM ET
Accepted
Jan 10, 8:29 PM ET
Size
19.0 KB
Accession
0001214659-22-000539
Insider Transaction Report
Form 4
NAQVI NAQI A
Senior VP and CAO
Transactions
- Disposition to Issuer
Stock option (right to buy)
2022-01-06$6.17/sh−200$1,235→ 0 totalExercise: $19.38Exp: 2029-01-04→ Common Stock (200 underlying) - Disposition to Issuer
Common Stock
2022-01-06−5,111→ 0 total - Disposition to Issuer
Common Stock
2022-01-06−1,241→ 0 total(indirect: By 401(k)) - Tax Payment
Common Stock
2022-01-06$27.79/sh−1,371$38,100→ 5,111 total - Disposition to Issuer
Stock option (right to buy)
2022-01-06$9.99/sh−800$7,996→ 0 totalExercise: $15.56Exp: 2031-01-04→ Common Stock (800 underlying) - Disposition to Issuer
Stock option (right to buy)
2022-01-06$3.63/sh−480$1,745→ 0 totalExercise: $21.92Exp: 2030-01-06→ Common Stock (480 underlying) - Disposition to Issuer
Stock option (right to buy)
2022-01-06$12.42/sh−480$5,964→ 0 totalExercise: $13.13Exp: 2030-03-19→ Common Stock (480 underlying)
Footnotes (7)
- [F1]Represents shares of common stock withheld by 1st Constitution Bancorp ("Issuer") to satisfy the Reporting Person's tax withholding obligations upon the vesting of restricted stock in connection with the merger of Issuer with and into Lakeland Bancorp Inc. ("Lakeland"), pursuant to the Agreement and Plan of Merger, dated as of July 11, 2021, by and between Issuer and Lakeland (the "Merger Agreement").
- [F2]Represents shares of Issuer common stock and restricted stock that converted into and became exchangeable pursuant to the Merger Agreement for the right to receive 1.3577 shares of Lakeland common stock having a market value of $21.73 per share on the effective date of the merger.
- [F3]Information presented as of the close of business on January 6, 2021.
- [F4]This option, which provided for vesting in five equal annual installments beginning January 4, 2019, was canceled in the merger in exchange for a cash payment of $1,234.94, less applicable withholdings, which amount represents (x) the number of underlying shares of Issuer common stock, multiplied by (y) the amount by which the volume-weighted average trading price per share of Issuer common stock for the five consecutive trading days ending on the fifth trading day preceding the date and time of the closing of the merger ($25.5547, or the "VWAP") exceeds the exercise price of this option.
- [F5]This option, which provided for vesting in five equal annual installments beginning January 6, 2020, was canceled in the merger in exchange for a cash payment of $1,744.66, less applicable withholdings, which amount represents (x) the number of underlying shares of Issuer common stock, multiplied by (y) the amount by which the VWAP exceeds the exercise price of this option.
- [F6]This option, which provided for vesting in five equal annual installments beginning March 19, 2020, was canceled in the merger in exchange for a cash payment of $5,963.86, less applicable withholdings, which amount represents (x) the number of underlying shares of Issuer common stock, multiplied by (y) the amount by which the VWAP exceeds the exercise price of this option.
- [F7]This option, which provided for vesting in five equal annual installments beginning January 4, 2021, was canceled in the merger in exchange for a cash payment of $7,995.76, less applicable withholdings, which amount represents (x) the number of underlying shares of Issuer common stock, multiplied by (y) the amount by which the VWAP exceeds the exercise price of this option.
Documents
Issuer
1ST CONSTITUTION BANCORP
CIK 0001141807
Entity typeother
Related Parties
1- filerCIK 0001215458
Filing Metadata
- Form type
- 4
- Filed
- Jan 9, 7:00 PM ET
- Accepted
- Jan 10, 8:29 PM ET
- Size
- 19.0 KB