Juliette Kleffel - 14 Feb 2023 Form 4 Insider Report for SEACOAST BANKING CORP OF FLORIDA (SBCF)

Role
EVP, Chief Banking Officer
Signature
/s/ Kathy L. Hsu as Power of Attorney for Juliette Kleffel
Issuer symbol
SBCF
Transactions as of
14 Feb 2023
Net transactions value
-$93,828
Form type
4
Filing time
16 Feb 2023, 12:24:57 UTC
Previous filing
14 Feb 2023
Next filing
05 Apr 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBCF Common Stock Options Exercise $83,995 +5,253 +14% $15.99 43,607 14 Feb 2023 Direct
transaction SBCF Common Stock Options Exercise $93,156 +3,247 +7.4% $28.69 46,854 14 Feb 2023 Direct
transaction SBCF Common Stock Sale $270,980 -8,500 -18% $31.88 38,354 14 Feb 2023 Direct
holding SBCF Common Stock 6,678 14 Feb 2023 Direct F1
holding SBCF Common Stock 1,261 14 Feb 2023 Direct F2
holding SBCF Common Stock 2,184 14 Feb 2023 Direct F3

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 SBCF Common Stock Right to Buy Options Exercise $0 -5,253 -100% $0.000000* 0 14 Feb 2023 Common Stock 5,253 $15.99 Direct F4, F5
transaction SBCF Common Stock Right to Buy Options Exercise $0 -3,247 -18% $0.000000 14,831 14 Feb 2023 Common Stock 18,078 $28.69 Direct F4, F6
holding SBCF Common Stock Right to Buy 12,635 14 Feb 2023 Common Stock 12,635 $31.15 Direct F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents unvested time-based restricted stock award granted on April 1, 2020, which shall vest over 3 years in one-third increments, beginning April 1, 2021, and on each anniversary thereafter, subject to continued employment.
F2 Represents an unvested time-based restricted stock award granted on April 1, 2021, which shall vest over 3 years in one-third increments, beginning April 1, 2022, and on each anniversary thereafter, subject to continued employment.
F3 Represents an unvested time-based restricted stock award granted on April 1, 2022, which shall vest over 3 years in one-third increments, beginning April 1, 2023, and on each anniversary thereafter, subject to continued employment.
F4 Granted pursuant to Seacoast Banking Corporation of Florida's 2013 Incentive Plan.
F5 Two tiered vesting. First, performance vesting must be met which requires that: 1) the market price of Seacoast common stock increase to 120% or more of the exercise price; and 2) Seacoast's Tier 1 Capital must be equal to or greater than the regulatory standard. Once performance criteria is met, option shall vest in equal installments at the end of each month over the next 48 months, provided that Optionee remains in Continuous Service on each applicable vesting date.
F6 Vests over 3 years in one-third increments each anniversary of the date of grant beginning on the first anniversary of the date of grant (the date indicated), subject to continuous employment on each vesting date and the Company's banking subsidiary meets certain capital requirements.