SI Financial Form 4 SI Financial / Laurie L Gervais 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

OMB APPROVAL

OMB Number:	3235-0287
Estimated average burden
hours per response:	0.5

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^*

Gervais Laurie L

(Last) (First) (Middle)

803 MAIN STREET

(Street)

WILLIMANTIC CT 06226

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SI Financial Group, Inc. [ SIFI ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Senior Vice President of the B

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2015

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	05/14/2015		M		15,679	A	$11.25	30,336	D
Common Stock	05/14/2015		S		200	D	$11.74	30,136	D
Common Stock	05/14/2015		S		400	D	$11.37	29,736	D
Common Stock	05/14/2015		S		500	D	$11.28	29,236	D
Common Stock	05/14/2015		S		700	D	$11.61	28,536	D
Common Stock	05/14/2015		S		700	D	$11.36	27,836	D
Common Stock	05/14/2015		S		1,000	D	$11.62	26,836	D
Common Stock	05/14/2015		S		1,000	D	$11.335	25,836	D
Common Stock	05/14/2015		S		1,500	D	$11.46	24,336	D
Common Stock	05/14/2015		S		1,500	D	$11.3494	22,836	D
Common Stock	05/14/2015		S		2,800	D	$11.35	20,036	D
Common Stock	05/14/2015		S		5,379	D	$11.2584	14,657	D
Common Stock								19,152.45	I	By 401(k)(1)
Common Stock								449	I	By Custodian For Child 1
Common Stock								449	I	By Custodian For Child 2
Common Stock								5,646.48	I	By ESOP(1)
Common Stock								6,250	I	By Performance Stock Award(2)
Common Stock								5,000	I	By Stock Award(3)

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
Stock Options	$11.25	05/14/2015		M			15,679	05/17/2006(4)	05/17/2015	Common Stock	15,679	$0.0000	0.0000	D
Stock Options	$9.4							02/16/2012(5)	02/16/2021	Common Stock	5,000		5,000	D
Stock Options	$5.68							02/24/2011(4)	02/24/2020	Common Stock	4,490		4,490	D
Stock Options	$11.01							10/24/2013(6)	10/24/2022	Common Stock	30,000		30,000	D

Explanation of Responses:

1. This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to Rule 16b-3(c).

2. The performance stock award vests in four equal annual installments commencing on February 26, 2014 and in each case is subject to continued employment with the Company and the achievement of certain performance metrics. If such performance metrics have not been satisfied as of such dates the awards may vest on a subsequent vesting date if the tangible book value of the Company's common stock on that date equals or exceeds the value on the grant date. All unvested award shares after the fourth vesting date will be forfeited.

3. Stock Awards granted pursuant to the SI Financial Group, Inc. 2012 Equity Incentive Plan vest in four equal annual installments commencing on October 24, 2013.

4. Stock Options granted pursuant to the SI Financial Group, Inc. 2005 Equity Incentive Plan are fully vested and exercisable.

5. Stock Options granted pursuant to the SI Financial Group, Inc. 2005 Equity Incentive Plan vest in five equal annual installments commencing on February 16, 2012.

6. Stock Options granted pursuant to the SI Financial Group, Inc. 2012 Equity Incentive Plan vest in five equal annual installments commencing on October 24, 2013.

	/s/ Laurie L. Gervais	05/15/2015
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.