X0202 4 2004-06-22 0 0001260968 MARLIN BUSINESS SERVICES CORP MRLN 0001268541 DYER DANIEL P C/O MARLIN BUSINESS SERVICES CORP. 124 GAITHER DRIVE MOUNT LAUREL NJ 08054 1 1 0 0 Chief Executive Officer Common Stock 2004-06-22 4 S 0 3336.0000 16.3050 D 383826.0000 D Option to Purchase Common Stock 18.8000 2012-01-29 2014-01-28 Common Stock 20000.0000 20000.0000 D Option to Purchase Common Stock 1.9100 2001-10-01 2007-10-01 Common Stock 31500.0000 31500.0000 D Option to Purchase Common Stock 4.2300 2004-04-03 2010-04-03 Common Stock 28000.0000 28000.0000 D Option to Purchase Common Stock 10.1800 2005-10-04 2011-10-04 Common Stock 51240.0000 51240.0000 D Option to Purchase Common Stock 3.3900 2006-01-17 2012-01-17 Common Stock 14000.0000 14000.0000 D Option to Purchase Common Stock 3.3900 2007-01-13 2013-01-13 Common Stock 7000.0000 7000.0000 D Option to Purchase Common Stock 10.1800 2007-01-13 2013-01-13 Common Stock 6650.0000 6650.0000 D The sale of shares of Marlin Business Services Corp. reported on this Form 4 was executed pursuant to a written plan adopted by the reporting person on May 25, 2004, that is intended to comply with Rule 10b5-1(c) of the Securities and Exchange Act of 1934. Represents average sales price per share. Includes 33,119 shares of restricted stock awarded to the reporting person pursuant to the Marlin Business Services Corp. 2003 Equity Compensation Plan. The reporting person elected to allocate 75% of his target bonus for 2004, 2005 and 2006 to restricted stock (in lieu of cash). The number of shares was determined using the closing price of $15.88 on the award date (March 9, 2004). 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. Date listed is the date of full vesting. Each grants vests 25% per year beginning on the first anniversary of the date of grant. /s/ George D. Pelose Attorney in Fact 2004-06-23