4//SEC Filing
CYR PAM 4
Accession 0001225208-19-004479
CIK 0001615418other
Filed
Mar 4, 7:00 PM ET
Accepted
Mar 5, 8:59 AM ET
Size
26.6 KB
Accession
0001225208-19-004479
Insider Transaction Report
Form 4
CYR PAM
EVP & CRBO
Transactions
- Disposition to Issuer
Common Stock
2019-03-01−57,576→ 0 total - Disposition to Issuer
Common Stock
2019-03-01−6,000→ 0 total(indirect: By IRA) - Disposition to Issuer
Common Stock
2019-03-01−3,600→ 0 total(indirect: Restricted Stock IX) - Disposition to Issuer
Common Stock
2019-03-01−40,667→ 0 total(indirect: Restricted Stock X) - Disposition to Issuer
Common Stock
2019-03-01−4,494→ 0 total(indirect: Restricted Stock XII) - Disposition to Issuer
Stock Option (Right to Buy)
2019-03-01−19,016→ 0 totalExercise: $11.41Exp: 2025-02-06→ Common Stock (19,016 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2019-03-01−32,997→ 0 totalExercise: $10.77Exp: 2024-02-20→ Common Stock (32,997 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
2019-03-01−13,748→ 0 totalExercise: $8.01Exp: 2022-07-18→ Common Stock (13,748 underlying) - Disposition to Issuer
Common Stock
2019-03-01−14,241→ 0 total(indirect: By KSOP) - Disposition to Issuer
Common Stock
2019-03-01−1,700→ 0 total(indirect: Restricted Stock VIII) - Disposition to Issuer
Common Stock
2019-03-01−3,404→ 0 total(indirect: Restricted Stock XI) - Disposition to Issuer
Stock Option (Right to Buy)
2019-03-01−32,997→ 0 totalExercise: $8.40Exp: 2023-01-17→ Common Stock (32,997 underlying)
Footnotes (9)
- [F1]Disposed of pursuant to the Agreement and Plan of Reorganization, dated as of August 7, 2018 and amended on November 1, 2018, by and between WSFS Financial Corporation ("WSFS") and Beneficial Bancorp, Inc. ("Beneficial"), pursuant to which Beneficial merged with and into WSFS, with WSFS continuing as the surviving entity (the "Merger"). At the effective time of the Merger (the "Effective Time"), each share of Beneficial common stock issued and outstanding immediately prior to such time (other than certain excluded common stock) was converted into the right to receive 0.3013 of a share of WSFS common stock and $2.93 in cash.
- [F2]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 28, 2019, the third anniversary of the award, and thereafter, 20% of the shares each vest on the fourth and fifth anniversaries of the award.
- [F3]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 06, 2018, the third anniversary of the award, and thereafter, 20% of the shares each vest on the fourth and fifth anniversaries of the award.
- [F4]Shares of restricted stock vest in 3 equal annual installments with the first 33 1/3% vesting on June 9, 2017, the first anniversary of the date of the award.
- [F5]Of the 4,642 shares granted 2,785 shares will fully vest on January 26, 2020 upon the satisfaction of company performance criteria related to credit quality, return on average assets and total shareholder return. The remaining 1,857 shares are subject to vesting in 3 equal annual installments with the first 33 1/3% vesting on January 26, 2018, the first anniversary of the date of the award.
- [F6]Of the 5,185 shares granted 3,111 shares will fully vest on January 25, 2021 upon the satisfaction of company performance criteria related to credit quality, return on average assets and total shareholder return. The remaining 2,074 shares are subject to vesting in 3 equal annual installments with the first 33 1/3% vesting on January 25, 2019, the first anniversary of the date of the award.
- [F7]Stock options are fully vested and exercisable.
- [F8]At the Effective Time, pursuant to the Agreement and Plan of Reorganization, dated as of August 7, 2018 and amended on November 1, 2018, by and between WSFS and Beneficial, all stock options were cancelled and the reporting person received a cash payment for each stock option equal to the difference, if positive, between $19.50 and the applicable exercise price of such stock option.
- [F9]Stock options vest in 5 equal annual installments with the first 20% vesting on February 6, 2016, the first anniversary of the date of the grant.
Documents
Issuer
Beneficial Bancorp Inc.
CIK 0001615418
Entity typeother
Related Parties
1- filerCIK 0001213434
Filing Metadata
- Form type
- 4
- Filed
- Mar 4, 7:00 PM ET
- Accepted
- Mar 5, 8:59 AM ET
- Size
- 26.6 KB