Michael Joseph Clement - Dec 31, 2021 Form 4 Insider Report for BRYN MAWR BANK CORP (BMTC)

Role
Director
Signature
/s/ Lori Goldman, Attorney-in-Fact
Stock symbol
BMTC
Transactions as of
Dec 31, 2021
Transactions value $
$0
Form type
4
Date filed
1/3/2022, 02:32 PM
Previous filing
Dec 29, 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BMTC Common Stock Options Exercise $0 +218 +0.7% $0.00 31.5K Jan 1, 2022 Direct F1
transaction BMTC Common Stock Options Exercise $0 +1K +3.17% $0.00 32.5K Jan 1, 2022 Direct F1
transaction BMTC Common Stock Options Exercise $0 +216 +0.66% $0.00 32.7K Jan 1, 2022 Direct F1
transaction BMTC Common Stock Options Exercise $0 +878 +2.68% $0.00 33.6K Jan 1, 2022 Direct F2
transaction BMTC Common Stock Options Exercise +2.33K +6.92% 35.9K Dec 31, 2021 Direct F3
transaction BMTC Common Stock Options Exercise +4.99K +13.9% 40.9K Dec 31, 2021 Direct F3
transaction BMTC Common Stock Disposed to Issuer -40.9K -100% 0 Jan 1, 2022 Direct F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BMTC Restricted Stock Units Options Exercise $0 -218 -100% $0.00* 0 Jan 1, 2022 Common Stock 218 Direct F1, F5
transaction BMTC Restricted Stock Units Options Exercise $0 -1K -100% $0.00* 0 Jan 1, 2022 Common Stock 1K Direct F1, F5
transaction BMTC Restricted Stock Units Options Exercise $0 -216 -100% $0.00* 0 Jan 1, 2022 Common Stock 216 Direct F1, F5
transaction BMTC Phantom Stock Options Exercise -4.99K -100% 0 Dec 31, 2021 Common Stock 4.99K Direct F3, F6
transaction BMTC Phantom Stock Options Exercise -2.33K -100% 0 Dec 31, 2021 Common Stock 2.33K Direct F3, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Michael Joseph Clement is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Reflects the full vesting of all outstanding time-based restricted stock units held by the Reporting Person, as contemplated by the respective grant agreements, and that certain Agreement and Plan of Merger entered into as of March 9, 2021 (the "Merger Agreement"), between Bryn Mawr Bank Corporation (the "Issuer") and WSFS Financial Corporation ("WSFS"), pursuant to which the Issuer will merge with and into WSFS (the "Merger"). On December 31, 2021, the closing price of the Issuer was $45.01, and the closing price of WSFS was $50.12.
F2 Reflects the full vesting of all outstanding performance-based restricted stock units held by the Reporting Person, as contemplated by the respective grant agreement, and the Merger Agreement. Each restricted stock unit represents a contingent right to receive one share of Issuer's common stock. On December 31, 2021, the closing price of the Issuer was $45.01, and the closing price of WSFS was $50.12.
F3 Each share of phantom stock was the economic equivalent of one share of the Issuer's common stock. The shares of phantom stock became payable, in cash, upon the Reporting Person's termination of service as a director in connection with the Merger.
F4 Pursuant to the terms of the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of Issuer's common stock issued and outstanding immediately prior to the Effective Time, subject to certain exceptions, converted into the right to receive, without interest, 0.90 of a share of WSFS common stock.
F5 Each restricted stock unit represents a contingent right to receive one share of BMTC common stock.
F6 Phantom stock was held in Bryn Mawr Trust Company Deferred Payment Plan for Directors ("BMTC Plan"). On December 31, 2021, the Reporting Person's holdings in the BMTC Plan became payable and will be distributed in cash in accordance with the BMTC Plan.
F7 Phantom stock was held in Bryn Mawr Bank Corporation Deferred Payment Plan for Directors ("BMBC Plan"). On December 31, 2021, the Reporting Person's holdings in the BMBC Plan became payable and will be distributed in cash in accordance with the BMBC Plan.