FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 06/21/2005 |
3. Issuer Name and Ticker or Trading Symbol
SEACOAST BANKING CORP OF FLORIDA [ SBCF ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 6,212 | D(1) | |
Common Stock | 3,300 | D(2) | |
Common Stock | 3,850 | D(3) | |
Common Stock | 3,829.5695 | D(4) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Common Stock Right to Buy(5) | 06/18/2000 | 06/17/2006 | Common | 2,933.7 | $6.5909 | D | |
Common Stock Right to Buy(5) | 05/20/2001 | 05/20/2007 | Common | 6,600 | $7.7273(6) | D | |
Common Stock Right to Buy(5) | 07/01/1999 | 06/30/2008 | Common | 23,100 | $8.7879(7) | D | |
Common Stock Right to Buy(8) | (9) | 11/17/2013 | Common | 11,000 | $17.08 | D | |
Common Stock Right to Buy(8) | (10) | 12/21/2014 | Common | 4,000 | $22.4 | D |
Explanation of Responses: |
1. Shares held jointly with spouse |
2. 2,200 shares represent unvested shares in a time-based restricted stock award granted under Seacoast's 2000 Long-Term Incentive Plan which shall vest in 550-share increments on each anniversary of the date of grant (11/17/03), subject to continued employment. Another 1,100 shares represent unvested shares in a time-based restricted stock award granted under Seacoast's 2000 Long-Term Incentive Plan which shall vest in 220-share increments on each anniversary of the date of grant (12/20/04), subject to continued employment. |
3. 2,750 shares represent unvested shares in a performance based restricted stock award (RSA) which shall vest over a 5-year performance period beginning Jan. 1, 2004. Another 1,100 shares represent unvested shares in a performance based RSA which shall vest over a 5-year performance period beginning Jan. 1, 2005. Both awards were granted under Seacoast's 2000 Long-Term Incentive Plan and shall vest, subject to continued employment, as to the following percentage of shares based on Seacoast's EPS growth over the performance period compared to the prior fiscal year's EPS: 38% EPS growth=25% vesting; 50% EPS growth=50% vesting; 75% EPS growth=75% vesting; 85% EPS growth=100% vesting. Notwithstanding the above schedule, 100% of the awards will vest on the fifth anniversary of the grant date if Seacoast achieves an ROE of at least 16.5% for 3 consecutive quarters during the performance period, regardless of whether the EPS targets are met. |
4. Shares held in the Company's Profit Sharing Plan. |
5. Granted pursuant to Seacoast Banking Corportion of Florida's 1996 Long-Term Incentive Plan |
6. The Form 4 filing software only allows for numbers to be expressed up to four decimal places. The actual price of the stock options is $7.72727. |
7. The Form 4 filing software only allows for numbers to be expressed up to four decimal places. The actual price of the stock options is $8.787879. |
8. Granted pursuant to Seacoast Banking Corporation of Florida's 2000 Long-Term Incentive Plan |
9. Vests over 5 years at the rate of 20% on the first anniversary of the date of grant (11/17/03) and then at the rate of 20% on each of the following four anniversaries thereafter, subject to continued employment. |
10. Vests over 5 years at the rate of 20% on the first anniversary of the date of grant (12/21/2004) and then at the rate of 20% on each of the following four anniversaries thereafter, subject to continue employment. |
Remarks: |
O. Jean Strickland | 06/21/2005 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |