SI Silvergate Capital Corporation

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES                                                                                   
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

1. Name and Address of Reporting Person * Fraher Kathleen	2. Issuer Name and Ticker or Trading Symbol Silvergate Capital Corp [ SI ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                    _____ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) EVP & COO
(Last)          (First)          (Middle) 4250 EXECUTIVE SQUARE, SUITE 300	3. Date of Earliest Transaction (MM/DD/YYYY) 11/24/2020
(Street) LA JOLLA, CA 92037 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	11/24/2020		M		5000	A	$4.09	5787	D
Class A Common Stock	11/24/2020		F		2118	D	$34.42	3669	D
Class A Common Stock	11/24/2020		M		10000	A	$5.98	13669	D
Class A Common Stock	11/24/2020		F		4595	D	$34.42	9074	D
Class A Common Stock	11/24/2020		M		26250	A	$12	35324	D
Class A Common Stock	11/24/2020		F		15611	D	$34.42	19713	D
Class A Common Stock	11/24/2020		M		3539	A	$16.09	23252	D
Class A Common Stock	11/24/2020		F		2603	D	$34.42	20649	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		7. Title and Amount of Securities Underlying Derivative Security (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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)							(2)	(2)	Class A Common Stock	3609.0		3609	D
Non-Qualified Stock Options	$4.09	11/24/2020		M			5000	3/25/2011	3/25/2021	Class A Common Stock	5000.0	$0	0	D
Non-Qualified Stock Options	$5.98	11/24/2020		M			10000	5/29/2015	5/29/2025	Class A Common Stock	10000.0	$0	0	D
Non-Qualified Stock Options	$12.0	11/24/2020		M			26250	6/22/2018	6/22/2028	Class A Common Stock	26250.0	$0	8750	D
Non-Qualified Stock Options	$16.09	11/24/2020		M			3539	(3)	11/19/2029	Class A Common Stock	3539.0	$0	10616	D

Explanation of Responses:
(1)	Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
(2)	The restricted stock units vest in four equal annual installments beginning on November 19, 2020. Vested shares will be delivered within thirty days following the vesting of the restricted stock units, when, subject to any trading restriction, the reporting person will receive the number of ordinary shares that corresponds to the number of restricted stock units that have become vested on the applicable vesting date, less any shares withheld to satisfy federal, state, local and foreign taxes of any kind.
(3)	The option becomes exercisable in four equal annual installments beginning November 18, 2020.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Fraher Kathleen 4250 EXECUTIVE SQUARE SUITE 300 LA JOLLA, CA 92037			EVP & COO

Signatures
/s/ John M. Bonino, as Attorney-in-Fact		11/25/2020
**Signature of Reporting Person		Date