4//SEC Filing
GUARANTY BANCSHARES INC /TX/ 4
Accession 0000899243-17-014648
CIK 0001058867operating
Filed
May 29, 8:00 PM ET
Accepted
May 30, 10:26 AM ET
Size
9.2 KB
Accession
0000899243-17-014648
Insider Transaction Report
Form 4
Lower Harold E. II
EVP - Guaranty Bank & Trust
Transactions
- Award
Stock Options (Right to Buy)
2017-05-26+1,200→ 1,200 totalExercise: $27.00Exp: 2027-05-26→ Common Stock (1,200 underlying) - Disposition to Issuer
Stock Appreciation Rights
2017-05-26$10.00/sh−1,200$12,000→ 0 totalExercise: $17.00From: 2015-12-14→ Common Stock (1,200 underlying)
Footnotes (3)
- [F1]The stock options will vest in equal annual installments over the five-year period commencing on the first anniversary of the grant date. The stock options have been structured to comply with Section 409A of the Internal Revenue Code of 1986, as amended, and therefore shall immediately and automatically become vested and will be exercised upon, and cannot be exercised before, the earlier of (i) the Reporting Person's disability, (ii) the Reporting Person's death, (iii) the Reporting Person's separation of service, (iv) immediately prior to consummation of a change in control involving the Issuer, or (v) the expiration of the stock options; provided, however, that if the exercise price is equal to or greater than the fair market value of the underlying shares upon the earlier of the foregoing, then the stock options shall immediately and automatically be terminated with no consideration being paid to the Reporting Person.
- [F2]The stock appreciation rights ("SARs") vested ratably in annual installments over a period of five (5) years from the grant date, 12/14/2010.
- [F3]Upon the mutual agreement of the Reporting Person and the Issuer, effective May 26, 2017, the SARs were cancelled. The Reporting Person received a total of $12,000 as consideration for the cancellation of both the vested and unvested SARs. In addition, as additional consideration for cancellation of the SARs, the Issuer granted an equal number of stock options to the Reporting Person with an exercise price equal to the agreed-upon conversion price of the SARs, as described above.
Documents
Issuer
GUARANTY BANCSHARES INC /TX/
CIK 0001058867
Entity typeoperating
IncorporatedTX
Related Parties
1- filerCIK 0001058867
Filing Metadata
- Form type
- 4
- Filed
- May 29, 8:00 PM ET
- Accepted
- May 30, 10:26 AM ET
- Size
- 9.2 KB