Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Filing Details

Accession Number:
0001181431-13-017479
Form Type:
4
Zero Holdings:
No
Publication Time:
2013-03-18 16:48:04
Reporting Period:
2013-03-14
Filing Date:
2013-03-18
Accepted Time:
2013-03-18 16:48:04
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
275119 Baylake Corp BYLK State Commercial Banks (6022) 391268055
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1256643 J Robert Cera 217 North Fourth Avenue
Sturgeon Bay WI 54235-2405
Chief Executive Officer Yes Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2013-03-14 4,460 $4.15 13,060 No 4 M Direct
Common Stock Disposition 2013-03-14 2,300 $9.50 10,760 No 4 S Direct
Common Stock Disposition 2013-03-14 2,160 $9.35 8,600 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M Direct
No 4 S Direct
No 4 S Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock Option to Purchase Disposition 2013-03-14 4,460 $4.15 4,460 $4.15
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
17,836 2021-03-15 No 4 X Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Restricted Stock Units 22,296 Direct
Common Stock 20,350 Indirect By IRA
Common Stock 1,310 Indirect By ESPP
Restricted Stock Units 17,836 Direct
Common Stock 4,460 Direct
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Stock Options $6.20 2022-04-01 22,296 22,296 Direct
Common Stock 10% Convertible Promissory Notes due 2017 $5.00 2017-06-30 10,000 0 Indirect
Common Stock 10% Convertible Promissory Notes due 2017 $5.00 2017-06-30 15,000 0 Indirect
Expiration Date Amount Remaning Holdings Nature of Ownership
2022-04-01 22,296 22,296 Direct
2017-06-30 10,000 0 Indirect
2017-06-30 15,000 0 Indirect
Footnotes
  1. The aggregate restricted stock units were granted on 4/1/12 and vest annually pro rata over a five year period on the first through fifth anniversaries of the grant date. Upon the vesting date, the restricted stock units are converted into shares of common stock under direct ownership of the holder.
  2. The aggregate restricted stock units were granted on 3/15/2011 and vest annually pro rata over a five year period on the first through fifth anniversaries of the grant date. Upon the vesting date, the restricted stock units are converted into shares of common stock under direct ownership of the holder.
  3. The aggregate stock options were granted on 3/15/2011 and vest annually pro rata over a five year period on the first through fifth anniversaries of the grant date. Upon the vesting date, the stock options are convertible into shares of common stock at the discretion of the holder.
  4. The aggregate stock options were granted on 4/1/2012 and vest annually pro rata over a five year period on the first through fifth anniversaries of the grant date. Upon the vesting date, the stock options are convertible into shares of common stock at the discretion of the holder.
  5. The convertible promissory note is convertible into shares of common stock at a conversion ratio of one share of common stock for each $5.00 in aggregate principal amount held on the record date of the conversion, subject to adjustment for stock dividends, stock-splits, repurchases or reclassifications, as described in the security.
  6. The holder of the convertible promissory note may, at the option of the holder, convert up to the full principal amount of the convertible promissory notes into shares of common stock at any time prior to redemption or maturity. On October 1, 2014, up to one-half of the original principal amount of the convertible promissory note will automatically convert into shares of common stock.
  7. June 30, 2017, is the stated maturity date of the convertible promissory notes.