February 21, 2024 · Form 4 insider transaction
Nigro James M. bought 11,706 shares of LBAI at $0.00 per share, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 2 days after the transaction.
The above transaction represents the Executive's 2024 Restricted Stock Units (RSUs) awarded under the Issuer's 2018 Omnibus Equity Incentive Plan (Plan) and right to receive, following vesting, one share of common stock. 1/3rd of the time-based RSUs shall become vested on February 27 of each of the following 3 years provided that the Executive remains in Continuous Service (as defined in the Plan) through each respective vesting date, subject to forfeiture upon termination, other than for death, disability, normal or early retirement. In the event of a change in control in 2024 followed by a qualifying termination of employment, the RSUs will vest pro-rata determined by multiplying (i) the number of unvested RSUs by (ii) a fraction, the numerator of which shall be the number of months that have elapsed between the grant date and the change in control date and the denominator which shall be 12.