Charles M. Shaffer - Feb 27, 2023 Form 4 Insider Report for SEACOAST BANKING CORP OF FLORIDA (SBCF)

Role: Chairman, President & CEO, Director
Signature: /s/ Charles M. Shaffer
Stock symbol: SBCF
Transactions as of: Feb 27, 2023
Transactions value $: -$117,845
Form type: 4
Date filed: 3/1/2023, 05:09 PM
Previous filing: Feb 14, 2023
Next filing: Mar 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SBCF	Common Stock	Options Exercise	$26.4K	+2.4K	+3.8%	$11.00	65.6K	Feb 27, 2023	Direct
transaction	SBCF	Common Stock	Sale	-$73.7K	-2.4K	-3.66%	$30.71	63.2K	Feb 27, 2023	Direct	F1
transaction	SBCF	Common Stock	Sale	-$70.5K	-2.3K	-3.64%	$30.71	60.9K	Feb 27, 2023	Direct
holding	SBCF	Common Stock						1.57K	Feb 27, 2023	Direct	F2
holding	SBCF	Common Stock						18.3K	Feb 27, 2023	Direct	F3
holding	SBCF	Common Stock						5.24K	Feb 27, 2023	Direct	F4
holding	SBCF	Common Stock						6.15K	Feb 27, 2023	Direct	F5
holding	SBCF	Common Stock						1.15K	Feb 27, 2023	Direct	F6

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	-2.4K	-100%	$0.00^*	0	Feb 27, 2023	Common Stock	2.4K	$11.00	Direct	F7, F8
holding	SBCF	Common Stock Right to Buy						19K	Feb 27, 2023	Common Stock	19K	$31.15	Direct	F7, F9
holding	SBCF	Common Stock Right to Buy						28.5K	Feb 27, 2023	Common Stock	28.5K	$28.69	Direct	F7, F9
holding	SBCF	Common Stock Right to Buy						21.3K	Feb 27, 2023	Common Stock	21.3K	$14.82	Direct	F7, F10
holding	SBCF	Common Stock Right to Buy						25K	Feb 27, 2023	Common Stock	25K	$10.54	Direct	F7, F11

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices within the range of $30.71 to $30.73, inclusive. The Reporting Person undertakes to provide, upon request, to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price for this transaction.
F2	Represents an 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.
F3	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.
F4	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.
F5	Shares in the Company's Employee Stock Purchase Plan.
F6	Share equivalents held in Company's Retirement Savings Plan as of December 31, 2022.
F7	Granted pursuant to the Company's Amended and Restated 2013 Incentive Plan.
F8	Vests over 5 years at the rate of 20% on the first anniversary of the date of grant and then at the rate of 20% on each of the following four anniversaries thereafter, subject to continued employment.
F9	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.
F10	Originally had two tiered vesting. Performance criteria was met and time-based vesting began on 12/1/2016. Option vests 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.
F11	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), and then at the rate of 20% on each of the following two anniversaries thereafter 20%, subject to continued employment.