SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
HUDSON DENNIS S III

(Last) (First) (Middle)
815 COLORADO AVENUE
P O BOX 9012

(Street)
STUART FL 34995-9012

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SEACOAST BANKING CORP OF FLORIDA [ SBCF ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President & CEO
3. Date of Earliest Transaction (Month/Day/Year)
11/26/2004
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/26/2004 F 926 D $23.17 39,531(1) D(1)
Common Stock 71,610 D(2)
Common Stock 1,121,778 I Held by Sherwood Partners, Ltd., a family partnership
Common Stock 24,200 I Held by spouse
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock Right to Buy(3) $17.08 (4) 11/17/2013 Common Stock 75,000 75,000 D
Common Stock Right to Buy(5) $5.303 02/21/1999 02/20/2005 Common Stock 19,800 19,800 D
Common Stock Right to Buy(6) $6.5909 06/18/2000 06/17/2006 Common Stock 19,800 19,800 D
Common Stock Right to Buy(6) $7.7273(7) 05/20/2001 05/20/2007 Common Stock 19,800 19,800 D
Common Stock Right to Buy(6) $8.7879(8) 07/01/1999 06/30/2008 Common Stock 72,600 72,600 D
Explanation of Responses:
1. 14,000 shares represent unvested shares in a time-based restricted stock award granted under Seacoast's 2000 Long-Term Incentive Plan which shall vest in 3,500 share increments on each anniversary of the date of grant (11/17/03), subject to continued employment. Another 17,500 shares represent a performance based restricted stock award granted under the 2000 Long-Term Incentive Plan which shall vest, subject to continued employment, over a 5-year performance period beginning Jan.1, 2004 as to the following percentage of shares based on the Company's EPS growth over the performance period compared to fiscal year 2003 EPS: 38% EPS growth=25% vesting; 50% EPS growth=50% vesting; 75% EPS growth=75% vesting; 85% EPS growth=100% vesting. In addition, 100% of the performance based award shall vest on the fifth anniversary of the grant date if the Company achieves an ROE of at least 16.5% for 3 consecutive quarters during the performance period, regardless of whether the EPS targets are met.
2. Held jointly with spouse
3. Granted pursuant to Seacoast Banking Corporation of Florida's 2000 Long-Term Incentive Plan
4. Vest 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.
5. Granted pursuant to Seacoast Banking Corporation of Florida's 1991 Stock Option and Stock Appreciation Rights Plan
6. Granted pursuant to Seacoast Banking Corporation of Florida's 1996 Long-Term Incentive Plan
7. The Form 4 filing software only allows for numbers to be expressed up to four decimal places. The actual price of Mr. Hudson's stock options is $7.72727.
8. The Form 4 filing software only allows for numbers to be expressed up to four decimal places. The actual price of Mr. Hudson's stock options is $8.787879.
Sharon Mehl as Power of Attorney for Dennis S. Hudson, III 11/26/2004
** 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 4 (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).
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