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*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol SEACOAST BANKING CORP OF FLORIDA [ SBCF ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
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| 3. Date of Earliest Transaction (Month/Day/Year) 06/30/2016 | ||||||||||||||||||||||||||
| 4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 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 | 06/30/2016 | L(1) | V | 81 | A | $15.43 | 1,009 | D(2) | ||
| Common Stock | 1,591 | D | ||||||||
| Common Stock | 24,504 | D(3) | ||||||||
| Common Stock | 705.433 | D(4) | ||||||||
| Common Stock | 2,120 | D(4) | ||||||||
| Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 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 | ||||||||
| Common Stock Right to Buy(5) | $14.82 | (6) | 02/28/2024 | Common Stock | 21,255 | 21,255 | D | ||||||||
| Common Stock Right to Buy(5) | $12.63 | (7) | 01/28/2023 | Common Stock | 8,100 | 8,100 | D | ||||||||
| Common Stock Right to Buy(5) | $10.54 | 04/29/2015(8) | 04/29/2024 | Common Stock | 25,000 | 25,000 | D | ||||||||
| Common Stock Right to Buy(5) | $11 | 06/28/2014(9) | 06/28/2023 | Common Stock | 2,400 | 2,400 | D | ||||||||
| Stock-Settled Stock Appreciation Right(10) | $111.1 | 04/02/2012(11) | 04/02/2017 | Common Stock | 993 | 993 | D | ||||||||
| Explanation of Responses: |
| 1. Automatic monthly purchase into the Company's Employee Stock Purchase Plan |
| 2. Held in Seacoast's Employee Stock Purchase Plan |
| 3. Represents shares subject to performance-based restricted stock units ("PSUs") granted on June 28, 2013 and August 1, 2014, that were subject to performance requirements over a period ending December 31, 2015. On Feb. 29, 2016, the Company's Compensation Committee certified the number of shares attained based on the performance criteria. These shares now vest in one-third increments each year on Dec. 31, 2016, 2017 and 2018, provided the recipient remains in continuous service with the Company on each such vesting date. |
| 4. Share equivalents held in Company's Retirement Savings Plan as of December 31, 2015 |
| 5. Granted pursuant to Seacoast Banking Corporation of Florida's 2013 Incentive Plan |
| 6. Two tiered vesting. First, performance vesting must be met which requires that: 1) the market price of Seacoast common stock must increase to 120% or more of the exercise price; and 2) Seacoast's Tier 1 Capital must be equal to or greater than the regulatory standard. Once performance criteria is met, option shall vest in equal installments at the end of each month over the next 48 months, provided that Optionee remains in Continuous Service on each applicable vesting date. |
| 7. Performance vesting criteria has been met. Option vests in equal installments beginning on 7/1/2015 over the following 48 months, provided the Optionee remains in continuous service on each applicable vesting date. |
| 8. Vests over 3 years in one-third increments each anniversary of the date of grant beginning on the first anniversary of the date of grant (the date indicated), subject to continued employment. |
| 9. Vests over 5 years at the rate of 20% on the first anniversary of the date of grant (the date indicated) and then at the rate of 20% on each of the following four anniversaries thereafter, subject to continued employment. |
| 10. Granted pursuant to Seacoast Banking Corporation of Florida's 2000 Long-Term Incentive Plan |
| 11. Date fully vested |
| Remarks: |
| /s/ Sharon Mehl as Power of Attorney for Charles A. Shaffer | 07/01/2016 | |
| ** 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. | ||