SEC FORM 4

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^*

ANKENY LLOYD

(Last)

(First)

(Middle)

5335 MEADOWS ROAD

(Street)

LAKE OSWEGO

97035

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
WEST COAST BANCORP /NEW/OR/ [ WCBO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2013

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/01/2013		D		34,769⁽¹⁾	D	⁽²⁾	0	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$81.2	04/01/2013		D			600	04/22/2003	04/22/2013	Common Stock	600	⁽³⁾	0	D
Stock Option (right to buy)	$106.6	04/01/2013		D			470	04/20/2004	04/20/2014	Common Stock	470	⁽⁴⁾	0	D
Stock Option (right to buy)	$103.2	04/01/2013		D			410	04/26/2005	04/26/2015	Common Stock	410	⁽⁵⁾	0	D
Stock Option (right to buy)	$137.5	04/01/2013		D			260	04/25/2006	04/25/2016	Common Stock	260	⁽⁶⁾	0	D
Stock Option (right to buy)	$63.75	04/01/2013		D			430	04/22/2008	04/22/2018	Common Stock	430	⁽⁷⁾	0	D
Stock Option (right to buy)	$11.55	04/01/2013		D			1,920	04/28/2009	04/28/2019	Common Stock	1,920	⁽⁸⁾	0	D
Phantom Stock	⁽⁹⁾	04/01/2013		D			346	04/01/2013	04/01/2013	Common Stock	346	⁽²⁾	0	D

Explanation of Responses:

1. 1,050 of these shares represent restricted stock which became fully vested by virtue of the merger. All shares were cancelled and converted into the right to receive the Merger Consideration (defined below) pursuant to the Agreement and Plan of Merger, dated as of September 25, 2012, by and among Columbia Banking System, Inc. ("Columbia"), West Coast Bancorp ("West Coast"), and a wholly owned subsidiary of Columbia (the "Merger Agreement").

2. Pursuant to the terms of the Merger Agreement, the reporting person had the right to elect to receive consideration of either: (i) cash in an amount of $24.11 per share (the "Per Share Cash Consideration") for each share held, or (ii) a number of shares of Columbia common stock having a value equal to the Per Share Cash Consideration, or (iii) a mix of cash and Columbia common stock having a value equal to the Per Share Cash Consideration (the "Merger Consideration").

3. These options, which became exercisable on April 22, 2003, were cancelled in the merger in exchange for 699 vested options to purchase shares of Columbia common stock for $69.67 per share.

4. These options, which became exercisable on April 20, 2004, were cancelled in the merger in exchange for 547 vested options to purchase shares of Columbia common stock for $91.46 per share.

5. These options, which became exercisable on April 26, 2005, were cancelled in the merger in exchange for 477 vested options to purchase shares of Columbia common stock for $88.54 per share.

6. These options, which became exercisable on April 25, 2006, were cancelled in the merger in exchange for 303 vested options to purchase shares of Columbia common stock for $117.97 per share.

7. These options, which became exercisable on April 22, 2008, were cancelled in the merger in exchange for 501 vested options to purchase shares of Columbia common stock for $54.70 per share.

8. These options, which became exercisable on April 28, 2009, were cancelled in the merger in exchange for 2,237 vested options to purchase shares of Columbia common stock for $9.91 per share.

9. Contract right having value equivalent to the indicated number of underlying shares of West Coast common stock.

	/s/ Janice DeFir, as attorney-in-fact	04/03/2013
	** 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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