WILLIAMS SHELLY S 4
4 · National Commerce Corp · Filed Jan 10, 2019
Insider Transaction Report
Form 4
WILLIAMS SHELLY S
SVP and CAO
Transactions
- Tax Payment
Common Stock
2018-12-31$36.00/sh−352$12,672→ 3,567 total
Footnotes (2)
- [F1]Represents shares of common stock withheld to satisfy tax obligations in connection with the vesting and settlement of 1,015 performance share units of the issuer that were subject solely to time-based vesting ("Units"). These Units were granted to the reporting person on January 1, 2015 pursuant to the National Commerce Corporation 2011 Equity Incentive Plan, and such grant was exempt under Rule 16b-3(d) of the Securities Exchange Act of 1934, as amended. The Units, which were reported on the reporting person's previous ownership reports, vested on December 31, 2018 and were converted into shares of the issuer's common stock on a one-for-one basis.
- [F2]Includes 1,682 Units that are subject to time-based vesting according to the following schedule: 598 Units will vest on December 31, 2019, 538 Units will vest on December 31, 2020, and 546 Units will vest on December 31, 2021. The Units are settled for an equal number of shares of the issuer's common stock on each applicable vesting date.