0001437749-23-020062.txt : 20230717
0001437749-23-020062.hdr.sgml : 20230717
20230717171604
ACCESSION NUMBER: 0001437749-23-020062
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230717
FILED AS OF DATE: 20230717
DATE AS OF CHANGE: 20230717
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Leitzell Cynthia F
CENTRAL INDEX KEY: 0001671147
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-54835
FILM NUMBER: 231092343
MAIL ADDRESS:
STREET 1: 42 E. LANCASTER AVE
CITY: PAOLI
STATE: PA
ZIP: 19031
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: MALVERN BANCORP, INC.
CENTRAL INDEX KEY: 0001550603
STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
IRS NUMBER: 455307782
STATE OF INCORPORATION: PA
FISCAL YEAR END: 0930
BUSINESS ADDRESS:
STREET 1: 42 EAST LANCASTER AVENUE
CITY: PAOLI
STATE: PA
ZIP: 19301
BUSINESS PHONE: 610-644-9400
MAIL ADDRESS:
STREET 1: 42 EAST LANCASTER AVENUE
CITY: PAOLI
STATE: PA
ZIP: 19301
4
1
rdgdoc.xml
FORM 4
X0508
4
2023-07-17
1
0001550603
MALVERN BANCORP, INC.
MLVF
0001671147
Leitzell Cynthia F
C/O MALVERN BANCORP
42 E. LANCASTER AVE.
PAOLI
PA
19301
1
0
Common Stock
2023-07-17
4
D
0
25175.23
D
0
D
Stock Options
26.20
2023-07-17
4
D
0
1166
D
2027-12-29
Common Stock
1166
0
D
Stock Options
21
2023-07-17
4
D
0
1000
D
2027-03-28
Common Stock
1000
0
D
Stock Options
20.90
2023-07-17
4
D
0
1000
D
2029-02-26
Common Stock
1000
0
D
Stock Options
20.28
2023-07-17
4
D
0
1000
D
2030-02-26
Common Stock
1000
0
D
Stock Options
18.69
2023-07-17
4
D
0
1000
D
2031-04-01
Common Stock
1000
0
D
Stock Options
16.05
2023-07-17
4
D
0
1000
D
2032-05-03
Common Stock
1000
0
D
Stock Options
17.86
2023-07-17
4
D
0
1000
D
2033-03-06
Common Stock
1000
0
D
The shares were disposed of pursuant to the Agreement and Plan of Merger dated as of December 13, 2022, as amended by the amendments thereto (the "Merger Agreement"), by and among Malvern Bancorp, Inc. (the "Company"), Malvern Bank, National Association, First Bank, and FB Merger Subsidiary LLC. Pursuant to the Merger Agreement each share of Company common stock was converted into .7733 shares of common stock of First Bank and $7.80 in cash.
These stock options, which provided for vesting in five equal annual installments beginning on the date of grant, were fully vested and canceled pursuant to the Merger Agreement in exchange for a cash payment equal to the product of (a) the number of shares of Malvern Bancorp Common Stock underlying such stock option multiplied by (b) the excess, if any, of (i) the 0.7733 exchange ratio multiplied by the average closing price of First Bank common stock for the 20 trading days preceding the 10th day prior to the closing date of the merger, plus $7.80 in cash over (ii) the per share exercise price of such option.
This "Exit" Form 4 is being voluntarily filed to report that the Reporting Person is no longer subject to Section 16 reporting.
/s/ Cynthia Leitzell
2023-07-17