Beneficial Bancorp Inc. 4

Accession 0001225208-15-001357

CIK 0001615418operating

View on SEC.gov Company Profile

Filed

Jan 13, 7:00 PM ET

Accepted

Jan 14, 7:37 PM ET

Size

30.4 KB

Accession

0001225208-15-001357

Insider Transaction Report

Form 4

Period: 2015-01-12

Beneficial Bancorp Inc.BNCL

Gould James E.

EVP & Chief Lending Officer

Transactions

Other
Common Stock
2015-01-12+1,572→ 7,011 total(indirect: By KSOP)
Other
Stock Option (Right to Buy)
2015-01-12+21,998→ 21,998 total
Exercise: $10.77Exp: 2024-02-20→ Common Stock (21,998 underlying)
Other
Common Stock
2015-01-12+10,999→ 10,999 total(indirect: Performance Award II)
Other
Common Stock
2015-01-12+4,400→ 4,400 total(indirect: Restricted Stock IV)
Other
Common Stock
2015-01-12+2,199→ 2,199 total(indirect: Restricted Stock VI)
Other
Stock Option (Right to Buy)
2015-01-12+16,498→ 16,498 total
Exercise: $7.62Exp: 2021-05-27→ Common Stock (16,498 underlying)
Other
Common Stock
2015-01-12+2,199→ 2,199 total(indirect: Restricted Stock VII)
Other
Stock Option (Right to Buy)
2015-01-12+21,998→ 21,998 total
Exercise: $8.40Exp: 2023-01-17→ Common Stock (21,998 underlying)
Purchase
Common Stock
2015-01-12$10.00/sh+5,439$54,390→ 5,439 total(indirect: By KSOP)
Other
Common Stock
2015-01-12+4,962→ 4,962 total
Other
Common Stock
2015-01-12+4,399→ 4,399 total(indirect: Restricted Stock V)
Other
Stock Option (Right to Buy)
2015-01-12+27,497→ 27,497 total
Exercise: $8.30Exp: 2022-03-23→ Common Stock (27,497 underlying)

Footnotes (11)

[F1]Pursuant to the Plan of Conversion and Reorganization of Beneficial Savings Bank MHC, Beneficial Mutual Bancorp, Inc. and Beneficial Mutual Savings Bank, each share of common stock of Beneficial Mutual Bancorp was exchanged for 1.0999 shares of Beneficial Bancorp, Inc. common stock.
[F10]Stock options vest in 5 equal annual installments with the first 20% vesting on March 23, 2013, the first anniversary of the date of the grant.
[F11]Stock options vest in 5 equal annual installments with the first 20% vesting on May 27, 2012, the first anniversary of the date of the grant.
[F2]The award represents shares of restricted stock which vest accordingly: if during the performance measurement period (beginning with the 12 months ended December 31, 2011 and ending with the 12 months ended December 31, 2015), the Company achieves a rate of return on average assets ("ROAA") of not less than 1% during any of those 12-month periods, then shares will begin to vest in 5 equal annual installments commencing on May 27, 2013. However, if the Company does not achieve an ROAA of not less than 1% by December 31, 2016, the performance requirement for vesting purposes will be that the Company must be ranked in the top quartile of the SNL index of thrifts nationwide with assets between $1 billion and $10 billion based on ROAA (the "SNL Index") for the 2015 fiscal year. In the event the Company is not in the top quartile of the SNL Index based on upon the Company's fiscal 2016 financial performance, then all shares subject to this award will be forfeited.
[F3]Shares of restricted stock vest at a rate of 60% commencing on May 27, 2014, the third anniversary of the date of the award, 20% vests on May 27, 2015, and the remaining 20% vests on May 27, 2016.
[F4]These restricted shares are subject to a three-year cliff vesting schedule whereby no shares vest on the first and second anniversaries of the award, 60% of the shares vest on March 23, 2015, the third anniversary of the award, and thereafter, 20% of the shares each vest on the fourth and fifth anniversaries of the award.
[F5]These restricted shares are subject to a three-year cliff vesting schedule whereby no shares vest on the first and second anniversaries of the award, 60% of the shares vest on January 17, 2016, the third anniversary of the award, and thereafter, 20% of the shares each vest on the fourth and fifth anniversaries of the award.
[F6]These restricted shares are subject to a three-year cliff vesting schedule whereby no shares vest on the first and second anniversaries of the award, 60% of the shares vest on February 20, 2017, the third anniversary of the award, and thereafter, 20% of the shares each vest on the fourth and fifth anniversaries of the award.
[F7]Pursuant to the Plan of Conversion and Reorganization, each option to purchase a share of Beneficial Mutual Bancorp common stock was converted into an option to purchase 1.0999 shares of Beneficial Bancorp common stock, rounded down to the nearest share. The exercise price was determined by dividing the exercise price of the Beneficial Mutual Bancorp option by the 1.0999 exchange ratio with such quotient rounded up to the nearest whole cent. All such options continue to vest on their original terms.
[F8]Stock options vest in 5 equal annual installments with the first 20% vesting on January 17, 2014, the first anniversary of the date of the grant.
[F9]Stock options vest in 5 equal annual installments with the first 20% vesting on February 20, 2015, the first anniversary of the date of the grant.

Documents

2 files

Issuer

Beneficial Bancorp Inc.

CIK 0001615418

→

Entity typeoperating

Related Parties

filerCIK 0001615418

Filing Metadata

Form type: 4
Filed: Jan 13, 7:00 PM ET
Accepted: Jan 14, 7:37 PM ET
Size: 30.4 KB

View on SEC.gov