Ben Reynolds - 22 Feb 2023 Form 4 Insider Report for Silvergate Capital Corp (SICP)

Role
President
Signature
/s/ John M. Bonino, as Attorney-in-Fact
Issuer symbol
SICP
Transactions as of
22 Feb 2023
Net transactions value
-$3,879
Form type
4
Filing time
24 Feb 2023, 17:03:18 UTC
Previous filing
22 Nov 2022
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 +601 +23% 3,256 22 Feb 2023 Direct F1
transaction SICP Class A Common Stock Tax liability $3,879 -246 -7.6% $15.77* 3,010 22 Feb 2023 Direct

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 +601 +100% $0.000000 1,203 22 Feb 2023 Class A Common Stock 1,203 Direct F2, F3
holding SICP Restricted Stock Units 582 22 Feb 2023 Class A Common Stock 582 Direct F2, F4
holding SICP Restricted Stock Units 718 22 Feb 2023 Class A Common Stock 718 Direct F2, F5
holding SICP Restricted Stock Units 3,918 22 Feb 2023 Class A Common Stock 3,918 Direct F2, F6
holding SICP Non-Qualified Stock Options 5,140 22 Feb 2023 Class A Common Stock 5,140 $16.09 Direct F7
holding SICP Non-Qualified Stock Options 2,597 22 Feb 2023 Class A Common Stock 2,597 $127.56 Direct F8
holding SICP Non-Qualified Stock Options 4,169 22 Feb 2023 Class A Common Stock 4,169 $110.84 Direct F9
* 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 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.
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 restricted stock units vest in two equal installments, on February 26, 2024, and February 26, 2025. 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.
F7 The option becomes exercisable in four equal annual installments beginning November 19, 2020.
F8 The option becomes exercisable in three annual installments beginning February 26, 2022.
F9 The option becomes exercisable in three annual installments beginning February 22, 2023.