ALAN J. LANE - 19 Nov 2022 Form 4/A - Amendment 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
19 Nov 2022
Net transactions value
-$34,238
Form type
4/A - Amendment
Filing time
29 Mar 2023, 18:41:04 UTC
Date Of Original Report
22 Nov 2022
Previous filing
22 Jul 2022
Next filing
24 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 +2,773 2,773 19 Nov 2022 Direct F1
transaction SICP Class A Common Stock Tax liability $34,238 -1,375 -50% $24.90* 1,398 19 Nov 2022 Direct
holding SICP Class A Common Stock 153,945 19 Nov 2022 By Self and Spouse as Trustees of Lane Trust
holding SICP Class A Common Stock 88,268 19 Nov 2022 By IRA
holding SICP Class A Common Stock 1,758 19 Nov 2022 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 -2,773 -50% $0.000000 2,773 19 Nov 2022 Class A Common Stock 2,773 Direct F2, F3
holding SICP Restricted Stock Units 3,253 19 Nov 2022 Class A Common Stock 2,169 Direct F2, F4
holding SICP Restricted Stock Units 5,977 19 Nov 2022 Class A Common Stock 5,977 Direct F2, F5
holding SICP Non-Qualified Stock Options 16,314 19 Nov 2022 Class A Common Stock 16,314 $16.09 Direct F6, F7
holding SICP Non-Qualified Stock Options 7,838 19 Nov 2022 Class A Common Stock 7,838 $127.56 Direct F8
holding SICP Non-Qualified Stock Options 13,810 19 Nov 2022 Class A Common Stock 13,810 $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 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.
F4 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.
F5 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.
F6 This amendment is being filed to correct the reporting person's holding of Non-Qualified Stock Options with an exercise price of $16.09 (the "Options") from the previously reported erroneous figure of 32,628 Options to the correct number of 16,314 Options (following an exercise of 16,314 Options on 7/21/22 as reported by the reporting person on a Form 4 filed on 7/22/22). This error was carried forward on two subsequent Form 4s filed on 2/24/23 and 2/28/23, as well as an omission of these Options from a Form 4/A filed on 8/10/22.
F7 The option becomes exercisable in four equal annual installments beginning November 18, 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.

Remarks:

See footnote 6 for an explanation of this amendment.