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Filing Details

Accession Number:: 0001181431-13-017479
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2013-03-18 16:48:04
Reporting Period:: 2013-03-14

Filing Date:: 2013-03-18
Accepted Time:: 2013-03-18 16:48:04
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
275119	Baylake Corp	BYLK	State Commercial Banks (6022)	391268055

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1256643	J Robert Cera	217 North Fourth Avenue Sturgeon Bay WI 54235-2405	Chief Executive Officer	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2013-03-14	4,460	$4.15	13,060	No	4	M	Direct
Common Stock	Disposition	2013-03-14	2,300	$9.50	10,760	No	4	S	Direct
Common Stock	Disposition	2013-03-14	2,160	$9.35	8,600	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Option to Purchase	Disposition	2013-03-14	4,460	$4.15	4,460	$4.15

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
17,836		2021-03-15	No	4	X	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Restricted Stock Units	22,296	Direct
Common Stock	20,350	Indirect	By IRA
Common Stock	1,310	Indirect	By ESPP
Restricted Stock Units	17,836	Direct
Common Stock	4,460	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Options	$6.20	2022-04-01	22,296	22,296	Direct
Common Stock	10% Convertible Promissory Notes due 2017	$5.00	2017-06-30	10,000	0	Indirect
Common Stock	10% Convertible Promissory Notes due 2017	$5.00	2017-06-30	15,000	0	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2022-04-01	22,296	22,296	Direct
2017-06-30	10,000	0	Indirect
2017-06-30	15,000	0	Indirect

Footnotes

The aggregate restricted stock units were granted on 4/1/12 and vest annually pro rata over a five year period on the first through fifth anniversaries of the grant date. Upon the vesting date, the restricted stock units are converted into shares of common stock under direct ownership of the holder.
The aggregate restricted stock units were granted on 3/15/2011 and vest annually pro rata over a five year period on the first through fifth anniversaries of the grant date. Upon the vesting date, the restricted stock units are converted into shares of common stock under direct ownership of the holder.
The aggregate stock options were granted on 3/15/2011 and vest annually pro rata over a five year period on the first through fifth anniversaries of the grant date. Upon the vesting date, the stock options are convertible into shares of common stock at the discretion of the holder.
The aggregate stock options were granted on 4/1/2012 and vest annually pro rata over a five year period on the first through fifth anniversaries of the grant date. Upon the vesting date, the stock options are convertible into shares of common stock at the discretion of the holder.
The convertible promissory note is convertible into shares of common stock at a conversion ratio of one share of common stock for each $5.00 in aggregate principal amount held on the record date of the conversion, subject to adjustment for stock dividends, stock-splits, repurchases or reclassifications, as described in the security.
The holder of the convertible promissory note may, at the option of the holder, convert up to the full principal amount of the convertible promissory notes into shares of common stock at any time prior to redemption or maturity. On October 1, 2014, up to one-half of the original principal amount of the convertible promissory note will automatically convert into shares of common stock.
June 30, 2017, is the stated maturity date of the convertible promissory notes.