Reininga Daniel P 4
4 · LAKE SHORE BANCORP, INC. · Filed Sep 6, 2019
Insider Transaction Report
Form 4
Reininga Daniel P
Director
Transactions
- Exercise/Conversion
Stock Options (Right to Buy)
2019-09-05−17,000→ 0 totalExercise: $7.88Exp: 2020-01-26→ Common Stock (17,000 underlying) - Exercise/Conversion
Common Stock
2019-09-05$7.88/sh+17,000$133,960→ 51,090 total - Tax Payment
Common Stock
2019-09-05$14.88/sh−9,000$133,955→ 42,090 total
Holdings
- 30,800
Stock Options (Right to Buy)
Exercise: $14.38Exp: 2026-10-21→ Common Stock (30,800 underlying) - 6,000(indirect: By GH Graf Realty Corp.)
Common Stock
- 17,000(indirect: By Trust)
Common Stock
- 900(indirect: By Spouse)
Common Stock
- 3,993(indirect: By ESOP)
Common Stock
Footnotes (4)
- [F1]This Form is being filed to report the exercise of a Lake Shore Bancorp, Inc. stock option for a total of 17,000 shares by means of a stock swap. A stock swap is a method of exercising a stock option in which the option holder attests to the ownership of enough shares already owned by the option-holder to cover the exercise price of the option being exercised. As a result of this stock swap, the reporting person acquired ownership of an additional 8,000 shares of common stock.
- [F2]These shares were acquired pursuant to an Employee Stock Ownership Plan allocation.
- [F3]Stock options vest at a rate of 20% per year commencing on October 21, 2017.
- [F4]Options are fully vested.