Michael Ray Mineer Form 4 PREMIER FINANCIAL BANCORP / Michael Ray Mineer 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^*

Mineer Michael Ray

(Last) (First) (Middle)

10 SECOND STREET

(Street)

VANCEBURG KY 41179

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PREMIER FINANCIAL BANCORP INC [ PFBI ]

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

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2017

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
PFBI Common								18,892(10)	D

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
Employee Stock Option (Right to Buy)	$19.01	03/15/2017		A		5,000		(1)	03/15/2027	PFBI Common	5,000	$0	5,000	D
Employee Stock Option (Right to Buy) (PFBI Common)	$13.5454(9)							(2)	03/16/2026	PFBI Common	5,500(9)		5,500(9)	D
Employee Stock Option (Right to Buy)	$13.3818(9)							(3)	03/18/2025	PFBI Common	5,500(9)		5,500(9)	D
Employee Stock Option (Right to Buy)	$13.1182(9)							(4)	03/19/2024	PFBI Common	5,500(9)		5,500(9)	D
Employee Stock Option (Right to Buy)	$10.3545(9)							(5)	03/20/2023	PFBI Common	5,500(9)		5,500(9)	D
Employee Stock Option (Right to Buy)	$6.7909(9)							(6)	03/21/2022	PFBI Common	8,800(9)		8,800(9)	D
Employee Stock Option (Right to Buy)	$6.3182(9)							(7)	03/16/2021	PFBI Common	8,800(9)		8,800(9)	D
Employee Stock Option (Right to Buy)	$8.0909(9)							(8)	03/17/2020	PFBI Common	3,300(9)		3,300(9)	D

Explanation of Responses:

1. Options vest in three equal annual installments beginning on 03/15/2018.

2. Options vest in three equal annual installments beginning on 03/16/2017.

3. Options vest in three equal annual installments beginning on 03/18/2016.

4. Options vest in three equal annual installments beginning on 03/19/2015.

5. Options vested over three-year period from 03/20/2013 grant date and were fully vested on 03/20/2016.

6. Options vested over three-year period from 03/21/2012 grant date and were fully vested on 03/21/2015.

7. Options vested over three-year period from 03/16/2011 grant date and were fully vested on 03/16/2014.

8. Options vested over three-year period from 03/17/2010 grant date and were fully vested on 03/17/2013.

9. On December 9, 2016, Premier Financial Bancorp, Inc. paid a 10% stock dividend (1 share for every 10 shares owned on record date) to shareholders of record on December 2, 2016. Pursuant to the anti-dilution provisions of the stock option plans, the number of options awarded has been increased by 10% and the exercise price of the options awarded has been decreased by 10% to reflect the 10% stock dividend.

10. On December 9, 2016, Premier Financial Bancorp, Inc. paid a 10% stock dividend (1 share for every 10 shares owned on record date) to shareholders of record on December 2, 2016. Reporting person's last reported ownership of PFBI Common Stock has been increased by 1,717 shares to reflect the 10% stock dividend.

	/s/ Michael R. Mineer	03/16/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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