ALAN J. LANE - 22 Feb 2023 Form 4 Insider Report for Silvergate Capital Corp (SICP)

Role
Chief Executive Officer, Director
Signature
/s/ John M. Bonino, as Attorney-in-Fact
Issuer symbol
SICP
Transactions as of
22 Feb 2023
Net transactions value
-$12,821
Form type
4
Filing time
24 Feb 2023, 17:01:29 UTC
Previous filing
29 Mar 2023
Next filing
28 Feb 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SICP Class A Common Stock Options Exercise +1,992 +142% 3,390 22 Feb 2023 Direct F1
transaction SICP Class A Common Stock Tax liability $12,821 -813 -24% $15.77* 2,577 22 Feb 2023 Direct
holding SICP Class A Common Stock 153,945 22 Feb 2023 By Self and Spouse as Trustees of Lane Trust
holding SICP Class A Common Stock 88,268 22 Feb 2023 By IRA
holding SICP Class A Common Stock 1,758 22 Feb 2023 By Employer 401(k) Plan

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 SICP Restricted Stock Units Options Exercise $0 -1,992 -33% $0.000000 3,985 22 Feb 2023 Class A Common Stock 3,985 Direct F2, F3
holding SICP Restricted Stock Units 2,773 22 Feb 2023 Class A Common Stock 2,773 Direct F2, F4
holding SICP Restricted Stock Units 2,169 22 Feb 2023 Class A Common Stock 2,169 Direct F2, F5
holding SICP Non-Qualified Stock Options 32,628 22 Feb 2023 Class A Common Stock 32,628 $16.09 Direct F6
holding SICP Non-Qualified Stock Options 7,838 22 Feb 2023 Class A Common Stock 7,838 $127.56 Direct F7
holding SICP Non-Qualified Stock Options 13,810 22 Feb 2023 Class A Common Stock 13,810 $110.84 Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into Class A Common Stock on a one-for-one basis.
F2 Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F3 The restricted stock units vest in three equal annual installments beginning on February 22, 2023. Vested shares will be delivered within thirty days following the vesting of the restricted stock units, when, subject to any trading restriction, the reporting person will receive the number of Class A Common Stock shares that corresponds to the number of restricted stock units that have become vested on the applicable vesting date, less any shares withheld to satisfy federal, state, and local taxes of any kind.
F4 The restricted stock units vest in four equal annual installments beginning on November 19, 2020. Vested shares will be delivered within thirty days following the vesting of the restricted stock units, when, subject to any trading restriction, the reporting person will receive the number of ordinary shares that corresponds to the number of restricted stock units that have become vested on the applicable vesting date, less any shares withheld to satisfy federal, state, local and foreign taxes of any kind.
F5 The restricted stock units vest in three equal annual installments beginning on February 26, 2022. Vested shares will be delivered within thirty days following the vesting of the restricted stock units, when, subject to any trading restriction, the reporting person will receive the number of Class A Common Stock shares that corresponds to the number of restricted stock units that have become vested on the applicable vesting date, less any shares withheld to satisfy federal, state, and local taxes of any kind.
F6 The option becomes exercisable in four equal annual installments beginning November 18, 2020.
F7 The option becomes exercisable in three annual installments beginning February 26, 2022.
F8 The option becomes exercisable in three annual installments beginning February 22, 2023.