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Filing Details

Accession Number:: 0001209191-14-016820
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2014-03-04 17:43:32
Reporting Period:: 2014-02-28

Filing Date:: 2014-03-04
Accepted Time:: 2014-03-04 17:43:32
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
722256	Hudson Valley Holding Corp	HVB	State Commercial Banks (6022)	133148745

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1191178	T Vincent Palaia	C/O 21 Scarsdale Road Yonkers NY 10707		No	No	No	Yes

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2014-02-28	4,774	$18.78	139,332	No	4	M	Direct
Common Stock	Disposition	2014-02-28	4,774	$19.01	134,558	No	4	S	Direct
Common Stock	Disposition	2014-02-28	1,056	$18.79	133,502	No	4	F	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	F	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Employee Stock Options (Right-to-Buy)	Disposition	2014-02-28	4,774	$0.00	4,774	$18.78

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2015-01-01	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	12,604	Indirect	by spouse

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Employee Stock Options (Right-to-Buy)	$23.77		2016-02-07	5,830	0	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2016-02-07	5,830	0	Direct

Footnotes

Includes 1,983 shares of Restricted Stock that vested on 10/31/2013 upon the achievement of specified performance criteria and 994 shares of Restricted Stock that will vest at a rate of 33.3% per year over 3 years beginning on the anniversary of the date of the grant (which was 03/06/2013). Accordingly, 332 shares will vest on 03/06/2014 and 331 shares will vest on each of 03/06/2015 and 03/06/2016.
Includes 1,914 shares of Restricted Stock Award which vest over 3 years on the anniversary of the grant commencing 02/20/2015, at a rate of 33.3% for each year (638 shares will vest on each of 02/20/2015, 02/20/2016 and 02/20/2017).
Represents shares that were withheld to satisfy the Reporting Person's tax withholding obligation upon the accelerated vesting of 2,908 shares of Restricted Stock granted under the Issuer's 2010 Omnibus Incentive Plan in accordance with the terms and conditions of such plan. The accelerated vesting of the 2,908 shares of Restricted Stock was due to the Reporting Person's retirement from the Issuer on 02/28/2014.
Options became exercisable at 20% per year over 5 years on the anniversary of the grant, beginning on the date of the original grant of 01/01/2005. Accordingly, all options are presently exercisable.
Options became exercisable at 20% per year over 5 years on the anniversary of the grant, beginning on the date of the original grant of 02/07/2006. Accordingly, all options are presently exercisable.
Options canceled pursuant to the terms and conditions of the plan under which such options were granted as a result of the voluntary departure (i.e., retirement) of the Reporting Person from the Issuer on 02/28/2014.