Filing Details
- Accession Number:
- 0001209191-16-153405
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2016-12-05 17:11:16
- Reporting Period:
- 2016-12-01
- Filing Date:
- 2016-12-05
- Accepted Time:
- 2016-12-05 17:11:16
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1543643 | Cu Bancorp | CUNB | National Commercial Banks (6021) | 900779788 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1555186 | I David Rainer | C/O Cu Bancorp 15821, Ventura Blvd. Suite 100 Encino CA 91436 | Chairman & Ceo | Yes | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Acquisiton | 2016-12-01 | 38,000 | $17.50 | 70,546 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2016-12-01 | 38,000 | $27.85 | 32,546 | No | 4 | S | Direct | |
| Common Stock | Acquisiton | 2016-12-02 | 11,000 | $17.50 | 43,546 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2016-12-02 | 11,000 | $27.88 | 32,546 | No | 4 | S | Direct | |
| Common Stock | Acquisiton | 2016-12-05 | 7,000 | $17.50 | 39,546 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2016-12-05 | 7,000 | $28.67 | 32,546 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | S | Direct | |
| No | 4 | M | Direct | |
| No | 4 | S | Direct | |
| No | 4 | M | Direct | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Options to Purchase Common Stock | Disposition | 2016-12-01 | 38,000 | $0.00 | 38,000 | $17.50 |
| Common Stock | Options to Purchase Common Stock | Disposition | 2016-12-02 | 11,000 | $0.00 | 11,000 | $17.50 |
| Common Stock | Options to Purchase Common Stock | Disposition | 2016-12-05 | 7,000 | $0.00 | 7,000 | $17.50 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 22,000 | 2017-02-26 | No | 4 | M | Direct | |
| 11,000 | 2017-02-26 | No | 4 | M | Direct | |
| 4,000 | 2017-02-26 | No | 4 | M | Direct |
Reported Non-Derivative Holdings
| Sec. Name | Remaning Holdings | Nature of Ownership | Explanation |
|---|---|---|---|
| Common Stock | 182,876 | Indirect | Trustee of the David and Anne Rainer Trust |
| Common Stock | 31,634 | Indirect | IRA |
Reported Derivative Holdings
| Sec. Name | Sec. Type | Price | Date | Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|---|---|---|---|
| Common Stock | Restricted Stock Units | $0.00 | 40,000 | 40,000 | Direct | ||
| Common Stock | Options to Purchase Common Stock | $16.00 | 2017-09-24 | 23,333 | 23,333 | Direct |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 40,000 | 40,000 | Direct | |
| 2017-09-24 | 23,333 | 23,333 | Direct |
Footnotes
- Includes shares of restricted stock subject to a vesting schedule set forth in the restricted stock grant and subject to forfeiture upon the occurrence of certain events specified in the restricted stock grant.
- The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 1, 2016.
- Represents the aggregate of sales effected on the same day at different prices.
- This figure represents the weighted average sale price for all transactions, which are being aggregated and reported on a single line, as the transactions were all effectuated within a one dollar range, ranging from $27.70 to $28.10 per share. The Reporting Person will provide to the Commission, the issuer and any stockholder, upon request, full information regarding the number of shares purchased or sold at each separate price.
- This figure represents the weighted average sale price for all transactions, which are being aggregated and reported on a single line, as the transactions were all effectuated within a one dollar range, ranging from $27.75 to $28.25 per share. The Reporting Person will provide to the Commission, the issuer and any stockholder, upon request, full information regarding the number of shares purchased or sold at each separate price.
- This figure represents the weighted average sale price for all transactions, which are being aggregated and reported on a single line, as the transactions were all effectuated within a one dollar range, ranging from $28.53 to $28.88 per share. The Reporting Person will provide to the Commission, the issuer and any stockholder, upon request, full information regarding the number of shares purchased or sold at each separate price.
- Each restricted stock unit represents a contingent right to receive one share of CUNB stock.
- The restricted stock units will vest in three(3) installments to which 20,000 shares will vest on March 19, 2017 and 10,000 shares will vest on each March 19, 2018 and 2019. Vested shares will be delivered to the Reporting Person on or before March 15 in the calendar year following the vesting except to the extent that CUNB reasonably anticipates that CUNB's corporate income tax deduction for the payment of shares will be limited or eliminated as a result of the application of Internal Revenue Code Section 162(m). CUNB will defer the payment and delivery of such shares to the earliest date where CUNB reasonably anticipates that such deduction will not be limited or eliminated by application of Internal Revenue Code Section 162(m).
- As of filing date, the stock option grant is 100% vested and immediately exercisable.
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