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