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Filing Details

Accession Number:: 0000905729-15-000099
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2015-03-03 15:26:59
Reporting Period:: 2015-02-27

Filing Date:: 2015-03-03
Accepted Time:: 2015-03-03 15:26:59
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
19612	Chemical Financial Corp	CHFC	State Commercial Banks (6022)	382022454

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1213663	W Thomas Kohn	235 E. Main Street Midland MI 48640		No	No	No	Yes

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	2015-02-27	4,656	$0.00	39,739	No	4	M	Direct
Common Stock	Disposition	2015-02-27	1,472	$30.18	38,267	No	4	F	Direct
Common Stock	Disposition	2015-02-27	639	$30.50	37,628	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	F	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	Restricted Stock Units	Disposition	2015-02-27	4,233	$0.00	4,233	$0.00
Common Stock	Stock Options	Acquisiton	2015-02-27	7,976	$0.00	7,976	$30.18
Common Stock	Restricted Stock Units	Acquisiton	2015-02-27	4,936	$0.00	4,936	$0.00
Common Stock	Restricted Stock Units	Acquisiton	2015-02-27	740	$0.00	740	$0.00

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		No	4	M	Direct
7,976	2025-02-28	No	4	A	Direct
4,936		No	4	A	Direct
740		No	4	A	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	2	Indirect	By wife
Common Stock	8,032	Indirect	By wife in trust

Footnotes

Restricted stock units converted into shares of common stock upon the attainment by the Company of certain financial performance criteria upon completion of the year ended December 31, 2014 and the reporting person's satisfaction of the service requirement as of February 27, 2015. Restricted stock units were converted to shares of common stock on a 1.0-for-1.1 basis, as performance targets were achieved above the targeted level.
Shares withheld to satisfy applicable withholding taxes in connection with conversion of restricted stock units.
The reporting person disclaims any beneficial ownership of all shares owned by his wife. The filing of this statement shall not be construed as an admission that the reporting person is, for purposes of Section 16 of the Exchange Act of 1934 or for any other purpose, the beneficial owner of the securities owned by his wife.
Vests in five equal annual installments beginning on February 27, 2016.
Award of restricted stock performance units pursuant to the Chemical Financial Corporation Stock Incentive Plan of 2012. Restricted stock units under this award are convertible into shares of common stock based on the attainment by the Company of certain financial performance criteria in the year ending December 31, 2017 and the reporting person's satisfaction of the service requirement in February 2018. Restricted stock units under this award are reported assuming shares of common stock will be issuable on a 1-for-1 basis, but restricted stock units may be convertible on a basis ranging from 0.5-for-1 to 1.5-for-1 depending on the actual performance of the Company.
Award of restricted stock service-based units convertible into shares of common stock on a 1-for-1 basis at the end of a 5-year vesting period. Dividend equivalents will accrue under this award.