Derek J. Eisele - Nov 19, 2021 Form 4 Insider Report for Silvergate Capital Corp (SICP)

Role
Executive Vice President
Signature
/s/ John M. Bonino, as Attorney-in-Fact
Stock symbol
SICP
Transactions as of
Nov 19, 2021
Transactions value $
-$99,327
Form type
4
Date filed
11/23/2021, 07:10 PM
Previous filing
Nov 5, 2021
Next filing
Jan 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SICP Class A Common Stock Options Exercise +911 911 Nov 19, 2021 Direct F1
transaction SICP Class A Common Stock Tax liability -$99.3K -452 -49.62% $219.75 459 Nov 19, 2021 Direct
holding SICP Class A Common Stock 277 Nov 19, 2021 By Credit Shelter Trust F2
holding SICP Class A Common Stock 75.1K Nov 19, 2021 By Irrevocable Trust F3
holding SICP Class A Common Stock 104K Nov 19, 2021 By Self and Spouse as Trustees of Eisele Family Trust

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 -911 -33.35% $0.00 1.82K Nov 19, 2021 Class A Common Stock 911 Direct F4, F5
holding SICP Non-Qualified Stock Options 10.7K Nov 19, 2021 Class A Common Stock 10.7K $16.09 Direct F6
holding SICP Restricted Stock Units 313 Nov 19, 2021 Class A Common Stock 313 Direct F4, F7
holding SICP Non-Qualified Stock Options 755 Nov 19, 2021 Class A Common Stock 755 $127.56 Direct F8
holding SICP Non-Qualified Stock Options 30K Nov 19, 2021 Class A Common Stock 30K $5.64 Direct
* 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 reporting person is a co-trustee and remainder beneficiary of the Credit Shelter Trust U/W of Mary P. Eisele. The reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.
F3 The reporting person is a trustee and beneficiary of the George R. Eisele Irrevocable Trust II. The reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.
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 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.
F6 The option becomes exercisable in four equal annual installments beginning November 19, 2020.
F7 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.
F8 The option becomes exercisable in three annual installments beginning February 26, 2022.