X0202 4 2006-05-02 0 0001260968 MARLIN BUSINESS SERVICES CORP MRLN 0001268539 SHIVERS GARY R C/O MARLIN BUSINESS SERVICES CORP. 300 FELLOWSHIP ROAD MOUNT LAUREL NJ 08054 1 1 0 0 President Common Stock 2006-05-02 4 J 0 22862 D 161514 D Option to Purchase Common Stock 17.52 2009-01-11 2012-01-10 Common Stock 14881 14881 D Option to Purchase Common Stock 1.91 2001-10-01 2008-07-02 Common Stock 31500 31500 D Option to Purchase Common Stock 4.23 2004-04-03 2010-04-03 Common Stock 28000 28000 D Option to Purchase Common Stock 10.18 2005-10-04 2011-10-04 Common Stock 51240 51240 D Option to Purchase Common Stock 3.39 2006-01-17 2012-01-17 Common Stock 14000 14000 D Option to Purchase Common Stock 3.39 2007-01-13 2013-01-13 Common Stock 7000 7000 D Option to Purchase Common Stock 10.18 2007-01-13 2013-01-13 Common Stock 6650 6650 D Option to Purchase Common Stock 18.80 2012-01-29 2014-01-28 Common Stock 15000 15000 D Option to Purchase Common Stock 21.60 2010-03-28 2013-03-28 Common Stock 6124 6124 D Option to Purchase Common Stock 21.60 2010-03-28 2013-03-28 Common Stock 9186 9186 D Exchange of shares of Common Stock for units of limited partnership interests in an exchange fund. The shares of Common Stock were exchanged into the exchange fund using a per share value of $21.87. Includes a total of 26,630 shares of restricted stock where, as of the date of this filing, the restrictions have not yet lapsed. Date listed is the date of full vesting. Each grants vests 25% per year beginning on the first anniversary of the date of grant. 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. Represents the date the options will cliff vest if certain four year average EPS growth targets are achieved. 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; 3,062; 6,124; or 9,186. /s/ George D. Pelose Attorney in Fact 2006-05-03