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^*

WALLACE OTIS T

(Last)

(First)

(Middle)

599 9TH STREET NORTH,SUITE 101

(Street)

NAPLES

34102

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
TIB FINANCIAL CORP. [ TIBB ]

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)
04/29/2008

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, $.10 par value	04/29/2008		A		4,000⁽¹⁾	A	$0.00	36,879	D
Common Stock, $.10 par value								1,060	I	Spouse SEP IRA

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 Options (right to purchase)	$7.06							05/28/2002	05/28/2012	Common Stock	2,500		2,500	D
Stock Options	$15.815							05/08/2007	05/08/2016	Common Stock	400⁽²⁾		400	D
Stock Options	$15.815							05/08/2008	05/08/2016	Common Stock	400⁽²⁾		400	D
Stock Options	$15.815							05/08/2009	05/08/2016	Common Stock	400⁽²⁾		400	D
Stock Options	$15.815							05/08/2010	05/08/2016	Common Stock	400⁽²⁾		400	D
Stock Options	$15.815							05/08/2011	05/08/2016	Common Stock	400⁽²⁾		400	D

Explanation of Responses:

1. On April 29, 2008, the reporting person was granted 4,000 shares of restricted stock in connection with his re-election to the Board of Directors. The restricted stock vests over 3 years as follows: 1,334 shares vest on 4/29/2009, 1,333 shares vest on 4/29/2010 and 2011, respectively.

2. Stock Option Grant 5/8/2006 - 2,000 shares at $15.815 vesting over five years - 400 shares annually. Options expire 5/8/2016.

Remarks:

Re-elected to the Board of Directors by the Shareholders at the Annual Meeting held April 29, 2008.

	Vicki L. Walker, Attorney-In-Fact for Otis T. Wallace	05/01/2008
	** 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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