SEC Form 4
FORM 4 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
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: December 31, 2014
Estimated average burden
hours per response: 0.5
  
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
DYER DANIEL P

(Last) (First) (Middle)
C/O MARLIN BUSINESS SERVICES CORP.
300 FELLOWSHIP ROAD

(Street)
MOUNT LAUREL NJ 08054

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MARLIN BUSINESS SERVICES CORP [ MRLN ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Executive Officer
3. Date of Earliest Transaction (Month/Day/Year)
03/08/2010
4. If Amendment, Date of Original Filed (Month/Day/Year)
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. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 03/08/2010 M 140 A $4.23 397,748 (1) D
Common Stock 03/08/2010 S 140 D $8.9 397,608 (1) D
Common Stock 03/09/2010 M 6,295 A $4.23 403,903 (1) D
Common Stock 03/09/2010 S 6,295 D $8.75 397,608 (1) D
Common Stock 03/10/2010 M 1,419 A $4.23 399,027 (1) D
Common Stock 03/10/2010 S 1,419 D $8.75 397,608 (1) 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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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 (Month/Day/Year) 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: 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
Option to Purchase Common Stock $4.23 03/08/2010 (2) M 7,854 (2) 04/03/2004 (3) 04/03/2010 Common Stock 28,000 (4) 0 D
Option to Purchase Common Stock $17.52 01/11/2009 (3) 01/10/2012 Common Stock 21,429 21,429 D
Option to Purchase Common Stock $10.18 10/04/2005 (3) 10/04/2011 Common Stock 51,240 51,240 D
Option to Purchase Common Stock $3.39 01/17/2006 (3) 01/17/2012 Common Stock 14,000 14,000 D
Option to Purchase Common Stock $3.39 01/13/2007 (3) 01/13/2013 Common Stock 7,000 7,000 D
Option to Purchase Common Stock $10.18 01/13/2007 (3) 01/13/2013 Common Stock 6,650 6,650 D
Option to Purchase Common Stock $18.8 01/29/2012 (5) 01/28/2014 Common Stock 20,000 20,000 D
Option to Purchase Common Stock $21.6 03/28/2010 (3) 03/28/2013 Common Stock 8,016 8,016 D
Option to Purchase Common Stock $21.6 03/28/2010 (6) 03/28/2013 Common Stock 12,026 (7) 12,026 D
Option to Purchase Common Stock $20.77 03/16/2011 (3) 03/16/2014 Common Stock 9,314 9,314 D
Option to Purchase Common Stock $20.77 03/16/2011 (6) 03/16/2014 Common Stock 12,919 (8) 12,919 D
Option to Purchase Common Stock $9.52 03/01/2012 (3) 03/01/2015 Common Stock 22,642 22,642 D
Option to Purchase Common Stock $9.52 03/01/2012 (6) 03/01/2015 Common Stock 31,034 (9) 31,034 D
Explanation of Responses:
1. Includes a total of 208,503 shares of restricted stock where, as of the date of this filing, the restrictions have not yet lapsed.
2. Represents total of three exercises: 140 option shares exercised on 3/8/2010, 6,295 option shares exercised on 3/9/2010, and 1,419 option shares exercised on 3/10/2010.
3. Date listed is the date of full vesting. Each grants vests 25% per year beginning on the first anniversary of the date of grant.
4. N/A
5. Date listed is date of scheduled full vesting. This grant vests over an eight year period at the following annual increments: 2.5% in first year; 5.0% in second year; 7.5% in third year; 10.0% in fourth year; 15.0% in fifth year; and 20.0% in each of the sixth, seventh and eighth years. Vesting can be accelerated upon the reporting person's achievement of certain performance goals set forth in the grant instrument.
6. Represents the date the options will cliff vest if certain four year average EPS growth targets are achieved.
7. Represents the maximum number of options that may vest under this performance option grant. Vesting will be determined by EPS growth rates averaged over a four year performance period. Depending on the average EPS growth rate achieved for the four year period, the number of shares that vest at the end of the four year period could be 0; 4,008; 8,017; or 12,026.
8. Represents the maximum number of options that may vest under this performance option grant. Vesting will be determined by EPS growth rates averaged over a four year performance period. Depending on the average EPS growth rate achieved for the four year period, the number of shares that vest at the end of the four year period could be 0; 4,306; 8,612; or 12,919.
9. Represents the maximum number of options that may vest under this performance option grant. Vesting will be determined by EPS growth rates averaged over a four year performance period. Depending on the average EPS growth rate achieved for the four year period, the number of shares that vest at the end of the four year period could be 0; 10,345; 20,689; or 31,034.
Remarks:
/s/ George D. Pelose Attorney in Fact 03/10/2010
** Signature of Reporting Person Date
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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.