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
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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).
1. Name and Address of Reporting Person*
PELOSE GEORGE D

(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)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Operating Officer
3. Date of Earliest Transaction (Month/Day/Year)
12/05/2011
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 12/05/2011 S 117 D $12.8 (1) 238,378 (2) D
Common Stock 12/06/2011 S 2,386 D $12.87 (1) 235,992 (2) D
Common Stock 12/07/2011 S 2,497 D $12.93 (1) 233,495 (2) 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 $12.41 05/24/2014 (3) 05/24/2017 Common Stock 29,348 29,348 D
Option to Purchase Common Stock $12.41 05/24/2013 (4) 05/24/2017 Common Stock 6,616 (5) 6,616 D
Option to Purchase Common Stock $10.18 01/13/2007 (6) 01/13/2013 Common Stock 6,055 6,055 D
Option to Purchase Common Stock $9.52 03/01/2012 (6) 03/01/2015 Common Stock 17,394 17,394 D
Option to Purchase Common Stock $9.52 03/01/2012 (4) 03/01/2015 Common Stock 23,842 (7) 23,842 D
Explanation of Responses:
1. Represents average price per share.
2. Includes a total of 159,514 shares of restricted stock where, as of the date of this filing, the restrictions have not yet lapsed.
3. Date listed is the date of full vesting. Vests 25% per year beginning on the first anniversary of the date of grant.
4. Represents the date the options will cliff vest if certain four year average EPS growth targets are achieved.
5. 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; 2,205; 4,410; or 6,616.
6. Date listed is the date of full vesting. Each grants vests 25% per year beginning on the first anniversary of the date of grant.
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; 7,947; 15,895; or 23,842.
Remarks:
/s/ George D. Pelose 12/07/2011
** 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).
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