Statement of Changes in Beneficial Ownership (4)
March 02 2021 - 11:36AM
Edgar (US Regulatory)
FORM 4
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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
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1. Name and Address of Reporting Person
*
Tsimbinos Steven James |
2. Issuer Name and Ticker or Trading Symbol
OCEANFIRST FINANCIAL CORP
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OCFC
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Executive VP/Corp. Secretary |
(Last)
(First)
(Middle)
110 WEST FRONT STREET |
3. Date of Earliest Transaction
(MM/DD/YYYY)
2/26/2021 |
(Street)
RED BANK, NJ 07701
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 2/26/2021 | | A | | 16568 | A | $0 | 91343 | D (1) | |
Common Stock | 2/26/2021 | | A | | 13252 | A | $0 | 104595 | D (2) | |
Common Stock | 2/26/2021 | | D | | 4745 | D | $0 | 99850 | D (3) | |
Common Stock | 2/26/2021 | | D | | 1468 | D | $0 | 98382 | D (4) | |
Common Stock | 2/26/2021 | | D | | 2446 | D | $0 | 95936 | D (5) | |
Common Stock | | | | | | | | 5661 | I | By 401(k) (6) |
Common Stock | | | | | | | | 4099 | I | By ESOP (6) |
Series A Redeemable Preferred Stock | | | | | | | | 1000 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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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 |
Stock Option (right to buy) | $13.83 | | | | | | | 2/15/2013 | 2/15/2022 | Common Stock | 10125.0 | | 10125 | D | |
Stock Option (right to buy) | $14.62 | | | | | | | 2/15/2014 | 2/15/2023 | Common Stock | 11250.0 | | 11250 | D | |
Stock Option | $17.75 | | | | | | | 3/1/2015 | 3/19/2024 | Common Stock | 13125.0 | | 13125 | D | |
Stock Option (Right to Buy | $17.37 | | | | | | | 3/1/2016 | 3/18/2025 | Common Stock | 13125.0 | | 13125 | D | |
Stock Option (right to buy) | $17.28 | | | | | | | 3/1/2017 | 3/16/2026 | Common Stock | 15000.0 | | 15000 | D | |
Stock Option (right to buy) | $29.01 | | | | | | | 3/1/2018 | 3/15/2027 | Common Stock | 37500.0 | | 37500 | D (7) | |
Stock Option (right to buy) | $27.4 | | | | | | | 3/1/2019 | 1/24/2028 | Common Stock | 12915.0 | | 12915 | D (7) | |
Stock Option (right to buy) | $25.2 | | | | | | | 3/1/2020 | 3/1/2029 | Common Stock | 50335.0 | | 50335 | D (7) | |
Stock Option (right to buy) | $20.44 | | | | | | | 3/1/2021 | 2/28/2030 | Common Stock | 76790.0 | | 76790 | D (7) | |
Explanation of Responses: |
(1) | Restricted shares awarded. Such shares vest in four equal annual installments beginning on March 1, 2022. Total includes other restricted shares that vest in the future. |
(2) | Restricted shares awarded vest in four equal installments beginning on March 1, 2022 at approximately 67% or approximately 83% to 100% depending on the attainment of defined performance criteria for each of the calendar years ended 2021, 2022, 2023, and 2024, or are forfeited if threshold performance is not met. Total includes other unvested restricted shares that vest in the future. |
(3) | Represents forfeiture of unvested performance-based restricted shares, originally awarded on January 24, 2018, for failure to satisfy performance conditions. Total includes other unvested restricted shares that vest in the future. |
(4) | Represents forfeiture of unvested performance-based restricted shares, originally awarded on February 28, 2019, for failure to satisfy performance conditions. Remaining shares earned under this award will vest on each of March 1 of 2022, 2023, and 2024, subject to the satisfaction of performance criteria. Total includes other unvested shares that vest in the future. |
(5) | Represents forfeiture of unvested performance-based restricted shares, originally awarded on February 28, 2020, for failure to satisfy performance conditions. Remaining shares earned under this award will vest on each of March 1 of 2022, 2023, 2024, and 2025, subject to the satisfaction of performance criteria. Total includes other unvested shares that vest in the future. |
(6) | This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to Rule 16b-3(c). |
(7) | Options vest in five equal annual installments beginning on the date first exercisable. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Tsimbinos Steven James 110 WEST FRONT STREET RED BANK, NJ 07701 |
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| Executive VP/Corp. Secretary |
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Signatures
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/s/ Steven J. Tsimbinos | | 3/2/2021 |
**Signature of Reporting Person | Date |
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