Sec Form 4 Filing - SCHULMEISTER CURT T @ QUAINT OAK BANCORP INC - 2017-05-08

Insider filing report for Changes in Beneficial Ownership
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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
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
SCHULMEISTER CURT T
2. Issuer Name and Ticker or Trading Symbol
QUAINT OAK BANCORP INC [ QNTO]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chief Lending Officer*
(Last) (First) (Middle)
C/O QUAINT OAK BANCORP, INC., 501 KNOWLES AVENUE
3. Date of Earliest Transaction (MM/DD/YY)
05/08/2017
(Street)
SOUTHAMPTON, PA18966
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction 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
Common Stock 05/08/2017 F( 2 ) 190 D $ 13.05 4,416 ( 1 ) ( 3 ) D
Common Stock 5,000 ( 1 ) I By IRA
Common Stock 2,400.97 ( 1 ) ( 4 ) I By 401(k) Plan
Common Stock 16,360.551 ( 1 ) ( 5 ) I By ESOP
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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
Employee Stock Option (Right to Buy) $ 8.1 ( 6 ) ( 7 ) 05/08/2023 Common Stock 10,000 ( 6 ) 10,000 ( 6 ) D
Employee Stock Option (Right to Buy) $ 5 ( 6 ) 05/14/2014( 8 ) 05/14/2018 Common Stock 4,488 ( 6 ) 4,488 ( 6 ) D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SCHULMEISTER CURT T
C/O QUAINT OAK BANCORP, INC.
501 KNOWLES AVENUE
SOUTHAMPTON, PA18966
Chief Lending Officer*
Signatures
/s/ Curt T. Schulmeister 05/10/2017
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On September 8, 2015, the Issuer effected a 2-for-1 stock split. The number of shares reported throughout this Form 4 have been adjusted to reflect the stock split.
( 2 )Disposition solely to meet tax obligation for distribution from stock benefit plan.
( 3 )Includes 640 shares held in the 2008 Recognition and Retention Plan Trust which reflect the unvested portion of a grant amount originally covering 3,200 shares (adjusted to reflect the stock split) that commenced vesting at a rate of 20% per year on May 8, 2014.
( 4 )Includes shares acquired in the reporting person's 401(k) Plan account since the last filed Form 4. Based on a report dated May 10, 2017.
( 5 )Includes shares allocated to the reporting person's account in the ESOP since the last filed Form 4.
( 6 )In accordance with the terms of the stock option plan and stock incentive plan the exercise price of the options and number of shares subject to the option have been adjusted to reflect the stock split.
( 7 )The options are vesting at a rate of 20% per year commencing on May 8, 2014.
( 8 )The options vested at a rate of 16.667% per year commencing on May 14, 2009.

Remarks:
* Chief Lending Officer of Quaint Oak Bank (Issuer subsidiary)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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