Sun Bancorp (SNBC) Form 4 SUN BANCORP / THOMAS R BRUGGER ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BRUGGER THOMAS R

(Last) (First) (Middle)

C/O SUN BANCORP, INC.

350 FELLOWSHIP ROAD, SUITE 101

(Street)

MOUNT LAUREL NJ 08054

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SUN BANCORP INC /NJ/ [ SNBC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP/Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/03/2017

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/03/2017		F		236(1)	D	$25.7	24,837(2)(3)(4)(5)	D
Common Stock								1,247.31	I	401 (k)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Incentive Stock Option (right to buy)	$15.15							11/15/2014(6)	11/15/2022	Common Stock	4,000(6)		4,000(6)	D
Non-Qualified Stock Option (right to buy)	$21.08							03/01/2018(7)	03/01/2026	Common Stock	10,497(7)		10,497(7)	D
Non-Qualified Stock Option (right to buy)	$19.31							03/26/2017(8)	03/26/2025	Common Stock	8,077(8)		8,077(8)	D

Explanation of Responses:

1. Shares withheld for tax withholding upon vesting of 596 shares of restricted stock granted 3/3/14.

2. Total includes 7,634 shares of restricted stock awarded on 2/28/17 with a grant date of 3/1/17 which vests 1909 on 3/1/2018, 1909 on 3/1/2019, 1908 on 3/1/2020 and 1908 on 3/1/21.

3. Total includes 1,000 shares of restricted stock awarded on 2/20/14 which vests on 11/15/17.

4. Total includes 1,191 shares of restricted stock granted on 3/3/14 which vests 595 shares on 3/3/18 and 596 shares on 3/3/19.

5. Total includes 3,083 shares of restricted stock granted 3/1/16 which vests 770 shares on 3/1/18, 771 shares on 3/1/19, 771 shares on 3/1/20 and 771 shares on 3/1/21.

6. 25% is first earned and exercisable on 11/15/14 and 25% annually thereafter.

7. 25% is first earned and exercisable on 3/1/18 and 25% annually thereafter.

8. 25% is first earned and exercisable on 3/26/17 and 25% annually thereafter.

Remarks:

	Thomas R. Brugger	03/06/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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