Filing Details

Accession Number:
0001140361-11-018225
Form Type:
4
Zero Holdings:
No
Publication Time:
2011-03-23 13:16:28
Reporting Period:
2011-03-22
Filing Date:
2011-03-23
Accepted Time:
2011-03-23 13:16:28
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1017793 Sun Bancorp Inc SNBC Commercial Banks, Nec (6029) 521382541
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1053934 A Bernard Brown 226 Landis Avenue
Vineland NJ 08360
Chairman Of The Board Yes Yes Yes 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 2011-03-22 701,754 $2.85 3,929,714 No 4 P Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 663,112 Indirect Brown Foundation
Common Stock 1,064 Indirect National Distribution Centers, L.P.
Common Stock 20,625 Indirect Stock Plan 9/24/10
Common Stock 1,416,362 Indirect Vineland Construction
Common Stock 669,952 Indirect by Spouse
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Incentive Stock Option (right to buy) $4.73 2013-12-31 2021-03-02 208,032 208,032 Direct
Common Stock Non-Qualfied Stock Option (right to buy) $5.10 2010-09-24 2020-09-24 113,600 113,600 Direct
Common Stock Non-Qualified Stock Options (right to buy) $8.09 2002-07-24 2012-02-02 258,552 258,552 Direct
Common Stock Non-Qualified Stock Options (right to buy) $15.33 2007-05-08 2016-05-08 29,564 29,564 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2021-03-02 208,032 208,032 Direct
2020-09-24 113,600 113,600 Direct
2012-02-02 258,552 258,552 Direct
2016-05-08 29,564 29,564 Direct
Footnotes
  1. 25% first earned and non-forfeitable on September 24, 2010 and 25% annually thereafter.
  2. Awarded and administered as per the approved 2010 Performance Equity Plan. Maximum options that become earned and exercisable if Board established long-term performance objectives are achieved by 12/31/2013.
  3. 25% is first earned and exercisable on September 24, 2010 and 25% annually thereafter.
  4. First exercisable at the rate of 20% as of 6 months from the date of grant and 20% on each of the next 4 anniversaries of the first vesting event.