Sec Form 4 Filing - Lalwani Ellen @ LAKELAND BANCORP INC - 2021-05-19

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
Lalwani Ellen
2. Issuer Name and Ticker or Trading Symbol
LAKELAND BANCORP INC [ LBAI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
EVP/Chief Banking Officer
(Last) (First) (Middle)
C/O LAKELAND BANCORP, INC., 250 OAK RIDGE ROAD
3. Date of Earliest Transaction (MM/DD/YY)
05/19/2021
(Street)
OAK RIDGE, NJ07438
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 05/19/2021 A 3,277 ( 1 ) A $ 0 32,311 ( 3 ) D
Common Stock 05/19/2021 A 3,277 ( 2 ) A $ 0 35,588 ( 4 ) D
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
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Lalwani Ellen
C/O LAKELAND BANCORP, INC.
250 OAK RIDGE ROAD
OAK RIDGE, NJ07438
EVP/Chief Banking Officer
Signatures
/s/ Patricia Backman, POA 05/21/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The above transaction represents the Executive's 2021 Incentive Plan award. The award is time-based Restricted Stock Units (RSUs) issued under the Issuer's 2018 Omnibus Equity Incentive Plan (Plan) and represent the right to receive, following vesting, one share of common stock. One-third (1/3rd) of the time-based RSUs shall become vested on May 19 of each of the following three years provided that Ms. Lalwani remains in Continuous Service (as defined in the Plan) through each respective anniversary/vesting date. If such Continuous Service terminates sooner, the RSUs will be forfeited unless such termination of Continuous Service occurs because of death, disability, normal or early retirement, or a change in control event.
( 2 )The above transaction represents the Executive's 2021 Incentive Plan award. The award is Performance-Based Stock Units issued under the Issuer's 2018 Omnibus Equity Incentive Plan and represent the right to receive, following vesting, one share of common stock. The performance-based award is subject to goals based on the Company's return on average equity and may be adjusted upward or downward based on the Company's total shareholder return as compared to the TSR of the median of the Peer Group during the performance period. The PSUs shall become vested on May 19, 2024 provided that Ms. Lalwani remains in Continuous Service through each respective anniversary/vesting date. If such Continuous Service terminates sooner, the PSUs will be forfeited unless such termination of Continuous Service occurs because of death, disability, normal or early retirement, or a change in control event.
( 3 )Adjusted by 66 shares from the Company's dividend reinvestment plan on May 18, 2021.
( 4 )Represents a total of 26,321 RSU's that have not yet vested.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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