Ben Reynolds - Nov 19, 2021 Form 4 Insider Report for Silvergate Capital Corp (SICP)

Role: Chief Strategy Officer
Signature: /s/ John M. Bonino, as Attorney-in-Fact
Stock symbol: SICP
Transactions as of: Nov 19, 2021
Transactions value $: -$63,728
Form type: 4
Date filed: 11/23/2021, 07:07 PM
Previous filing: Nov 10, 2021
Next filing: Feb 24, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SICP	Class A Common Stock	Options Exercise		+583	+33.35%		2.33K	Nov 19, 2021	Direct	F1
transaction	SICP	Class A Common Stock	Tax liability	-$63.7K	-290	-12.44%	$219.75	2.04K	Nov 19, 2021	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	-583	-33.37%	$0.00	1.16K	Nov 19, 2021	Class A Common Stock	583		Direct	F2
holding	SICP	Non-Qualified Stock Options						5.14K	Nov 19, 2021	Class A Common Stock	6.85K	$16.09	Direct	F3
holding	SICP	Restricted Stock Units						1.16K	Nov 19, 2021	Class A Common Stock	3.92K		Direct	F4, F5
holding	SICP	Non-Qualified Stock Options						2.6K	Nov 19, 2021	Class A Common Stock	2.6K	$127.56	Direct	F6
holding	SICP	Restricted Stock Units						1.16K	Nov 19, 2021	Class A Common Stock	3.92K		Direct	F4, F7
holding	SICP	Restricted Stock Units						1.08K	Nov 19, 2021	Class A Common Stock	1.75K		Direct	F2, F4

* 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	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, local and foreign taxes of any kind.
F3	The option becomes exercisable in four equal annual installments beginning November 19, 2020.
F4	Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
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 three annual installments beginning February 26, 2022.
F7	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.