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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
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 control number. | SEC 1474 (9-02) |
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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Unit (ICP) | $ 0 | 01/27/2014 | M | 35,900 | (3) | (3) | Common Stock | 35,900 | $ 0 | 0 | D | ||||
Performance Stock Unit (ICP) | $ 0 | 01/27/2014 | M | 17,628 | (4) | (4) | Common Stock | 17,628 | $ 0 | 0 | D | ||||
Performance Stock Unit (ICP) | $ 0 | 01/27/2014 | M | 932 | (4) | (4) | Common Stock | 932 | $ 0 | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
SPENCE WILLIAM H TWO N. NINTH STREET ALLENTOWN, PA 18101 |
Chairman, President and CEO |
/s/Frederick C. Paine, as Attorney-In-Fact for William H. Spence | 01/28/2014 | |
**Signature of Reporting Person | Date |
* | 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). |
(1) | Total includes the reinvestment of dividend equivalents in the form of additional shares of the underlying securities. |
(2) | Shares withheld by the company at the request of the executive officer to pay taxes due following expiration of the applicable restriction period, under the terms of the Incentive Compensation Plan (ICP). |
(3) | The units vested on 01/27/2014. |
(4) | No conversion or exercise price or exercise or expiration date applies. Under the terms of the Incentive Compensation Plan (ICP), the underlying securities were earned based on the Company's performance relative to an industry peer group over a three-year performance period ending 12/31/2013. Determination of the percentage of the award earned was made by the Compensation, Governance and Nominating Committee on 01/23/2014 and calculation of the underlying shares to be delivered, net of withholding, was completed on 01/27/2014. |