0001062993-24-004222.txt : 20240223 0001062993-24-004222.hdr.sgml : 20240223 20240223153530 ACCESSION NUMBER: 0001062993-24-004222 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240221 FILED AS OF DATE: 20240223 DATE AS OF CHANGE: 20240223 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: SHARA THOMAS CENTRAL INDEX KEY: 0001185280 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-17820 FILM NUMBER: 24670832 MAIL ADDRESS: STREET 1: 92 FROST COURT CITY: WYCOFF STATE: NJ ZIP: 07481 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: LAKELAND BANCORP INC CENTRAL INDEX KEY: 0000846901 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 222953275 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 250 OAK RIDGE RD CITY: OAK RIDGE STATE: NJ ZIP: 07438 BUSINESS PHONE: 9736972000 MAIL ADDRESS: STREET 1: 250 OAK RIDGE RD CITY: OAKRIDGE STATE: NJ ZIP: 07438 4 1 form4.xml STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES X0508 4 2024-02-21 0000846901 LAKELAND BANCORP INC LBAI 0001185280 SHARA THOMAS C/O LAKELAND BANCORP, INC. 250 OAK RIDGE ROAD OAK RIDGE NJ 07438 0 1 0 0 President and CEO 0 Common Stock 2024-02-21 4 A 0 37860 0.00 A 616041 D Common Stock 2024-02-21 4 A 0 37860 0.00 A 654044 D Common Stock 752 I Family Partnership The above transaction represents the Executive's 2024 Restricted Stock Units (RSUs) awarded under the Issuer's 2018 Omnibus Equity Incentive Plan (Plan) and right to receive, following vesting, one share of common stock. 1/3rd of the time-based RSUs shall become vested on February 27 of each of the following 3 years provided that the Executive remains in Continuous Service (as defined in the Plan) through each respective vesting date, subject to forfeiture upon termination, other than for death, disability, normal or early retirement. In the event of a change in control in 2024 followed by a qualifying termination of employment, the RSUs will vest pro-rata determined by multiplying (i) the number of unvested RSUs by (ii) a fraction, the numerator of which shall be the number of months that have elapsed between the grant date and the change in control date and the denominator which shall be 12. The above transaction represents the Executive's 2024 Performance-Based Stock Units (PSUs) awarded under the Plan and right to receive, following vesting, one share of common stock. The award is subject to goals based on the Company's return on average equity and may be adjusted upward or downward based on the Company's total shareholder return compared to peer performance. The PSUs shall become vested on February 27, 2027 provided that the Executive remains in Continuous Service through the vesting date and may be forfeited upon termination other than for death, disability, normal or early retirement. Vesting of the PSUs in the event of a change in control shall following the same approach as the Executive???s 2024 RSU award. In the event of a change in control followed by continued employment, the PSUs will convert to time-vested awards and vest ratably over three years. Includes 214,199 Restricted and Performance Stock Units that have not yet vested and 143 shares earned from the Company's dividend reinvestment plan in February 2024. /s/ Patricia Backman, POA 2024-02-23