Timothy R. Mackay - Apr 1, 2022 Form 4 Insider Report for Level One Bancorp Inc (LEVL)

Role
EVP, Consumer Banking Officer
Signature
/s/ David C. Walker, attorney-in-fact
Stock symbol
LEVL
Transactions as of
Apr 1, 2022
Transactions value $
$0
Form type
4
Date filed
4/6/2022, 10:05 AM
Previous filing
Feb 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LEVL Common Stock Disposed to Issuer -23.9K -100% 0 Apr 1, 2022 Direct F1

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 LEVL Option (Right to Buy) Disposed to Issuer -7.5K -100% 0 Apr 1, 2022 Common Stock 7.5K $10.58 Direct F2, F3
transaction LEVL Option (Right to Buy) Disposed to Issuer -7K -100% 0 Apr 1, 2022 Common Stock 7K $13.50 Direct F3, F4
transaction LEVL Option (Right to Buy) Disposed to Issuer -6.6K -100% 0 Apr 1, 2022 Common Stock 6.6K $17.15 Direct F3, F5
transaction LEVL Option (Right to Buy) Disposed to Issuer -6.04K -100% 0 Apr 1, 2022 Common Stock 6.04K $20.75 Direct F3, F6
transaction LEVL Option (Right to Buy) Disposed to Issuer -5K -100% 0 Apr 1, 2022 Common Stock 5K $24.80 Direct F3, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Timothy R. Mackay is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Pursuant to the Agreement and Plan of Merger, dated November 4, 2021 (the "Merger Agreement"), between First Merchants Corporation ("First Merchants") and Level One Bancorp, Inc. ("Level One"), each share of Level One common stock held by the reporting person was converted into the right to receive 0.7167 shares of First Merchants common stock and $10.17 in cash.
F2 These options vest in three equal annual installments beginning one year after the 2/21/2013 date of grant.
F3 Pursuant to the Merger Agreement, this option was converted into an option with respect to a number of shares of First Merchants common stock equal to the number of shares subject to such stock option, multiplied by the Option Conversion Ratio (as defined in the Merger Agreement).
F4 These options vest in three equal annual installments beginning one year after the 7/17/2014 date of grant.
F5 These options vest in three equal annual installments beginning one year after the 7/16/2015 date of grant.
F6 These options vest in three equal annual installments beginning one year after the 2/18/2016 date of grant.
F7 These options vest in three equal annual installments beginning one year after the 2/15/2018 date of grant.