Gary John Fernandes Form 4 SANDY SPRING BANCORP / Gary John Fernandes 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^*

Fernandes Gary John

(Last) (First) (Middle)

SANDY SPRING BANCORP, INC.

17801 GEORGIA AVENUE

(Street)

OLNEY MD 20832

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SANDY SPRING BANCORP INC [ SASR ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP, Chief Human Resources Off

3. Date of Earliest Transaction (Month/Day/Year)
04/03/2023

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	04/03/2023		F		680(1)	D	$25.98	3,829.254	D
Common Stock								1,627.3865	D(2)
Common Stock								143	D(3)
Common Stock								1,818	D(4)
Common Stock								426	D(5)
Common Stock								975	D(6)
Common Stock								2,577	D(7)

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 (Right to Buy)	$42.48							03/15/2018	03/15/2024	Common Stock	368		368	D
Stock Options (Right to Buy)	$38.15							03/28/2019	03/28/2025	Common Stock	443		443	D

Explanation of Responses:

1. Shares of Restricted Stock vested on this date were withheld for tax obligations.

2. Shares purchased through the Employee Stock Purchase Plan.

3. Restricted stock awarded under 2015 Omnibus Incentive Plan vests in equal installments annually for five years beginning on April 1, 2020.

4. Restricted stock awarded under 2015 Omnibus Incentive Plan vests in equal installments annually for five years beginning on April 1, 2021.

5. Restricted stock awarded under 2015 Omnibus Incentive Plan will vest ratably on April 1, 2022, April 1, 2023, and April 1 2024.

6. Restricted stock units awarded under 2015 Omnibus Incentive Plan will vest ratably on April 1, 2023, April 1, 2024, and April 1 2025.

7. Restricted stock units awarded under 2015 Omnibus Incentive Plan will vest ratably on April 1, 2024, April 1, 2025, and April 1 2026.

	/s/ Janet VA Replogle, attorney-in-fact for Mr. Fernandes	04/04/2023
	** 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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