Sec Form 4 Filing - SILBERSTEIN KARL L @ Bank of Commerce Holdings - 2021-09-30

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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
SILBERSTEIN KARL L
2. Issuer Name and Ticker or Trading Symbol
Bank of Commerce Holdings [ BOCH]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
C/O BANK OF COMMERCE HOLDINGS, 555 CAPITOL MALL, SUITE 1255
3. Date of Earliest Transaction (MM/DD/YY)
09/30/2021
(Street)
SACRAMENTO, CA95814-4500
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 09/30/2021 D 21,795 ( 1 ) D 0 D
Common Stock 09/30/2021 D 18,500 ( 1 ) D 0 I By family trust
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
Reporting Owners
Re porting Owner Name / Address Relationships
Director 10% Owner Officer Other
SILBERSTEIN KARL L
C/O BANK OF COMMERCE HOLDINGS
555 CAPITOL MALL, SUITE 1255
SACRAMENTO, CA95814-4500
X
Signatures
/s/ Alicia E. MacGregor, Attorney-in-fact 10/01/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The shares were converted into the right to receive 0.40 shares of Columbia common stock in exchange for each share of the Company's common stock held on the Closing Date of the Merger described under "Remarks" below. Each share of the Company's common stock had a market value of $15.20 per share on the Closing Date, based on the closing price of Columbia's common stock on the Closing Date of $37.99. Cash will be paid in lieu of fractional shares, based on the average closing price of Columbia's common stock for the 20 consecutive Nasdaq trading days ending on September 23, 2021, of $34.81 per share (the "Parent Average Closing Price"), calculated in accordance with the terms of the Merger Agreement referenced under "Remarks" below.

Remarks:
This Form 4 reports securities disposed of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 23, 2021, by and between Bank of Commerce Holdings (the "Company") and Columbia Banking System, Inc. ("Columbia"), pursuant to which the Company was merged with and into Columbia (the "Merger"), effective September 30, 2021 (the "Closing Date").

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