0000315858-16-000112.txt : 20161004
0000315858-16-000112.hdr.sgml : 20161004
20161004191141
ACCESSION NUMBER: 0000315858-16-000112
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20160930
FILED AS OF DATE: 20161004
DATE AS OF CHANGE: 20161004
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: BFC FINANCIAL CORP
CENTRAL INDEX KEY: 0000315858
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500]
IRS NUMBER: 592022148
STATE OF INCORPORATION: FL
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 401 EAST LAS OLAS BLVD
STREET 2: SUITE 800
CITY: FORT LAUDERDALE
STATE: FL
ZIP: 33301
BUSINESS PHONE: 954-940-4900
MAIL ADDRESS:
STREET 1: P.O. BOX 39000
CITY: FORT LAUDERDALE
STATE: FL
ZIP: 33303
FORMER COMPANY:
FORMER CONFORMED NAME: BANKATLANTIC FINANCIAL CORP
DATE OF NAME CHANGE: 19920316
FORMER COMPANY:
FORMER CONFORMED NAME: IRE FINANCIAL CORP
DATE OF NAME CHANGE: 19880401
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: ABDO JOHN E
CENTRAL INDEX KEY: 0001199936
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-09071
FILM NUMBER: 161920850
MAIL ADDRESS:
STREET 1: P. O. BOX 39000
CITY: FT LAUDERDALE
STATE: FL
ZIP: 33303
4
1
certent-form4.xml
PRIMARY DOCUMENT
X0306
4
2016-09-30
0000315858
BFC FINANCIAL CORP
BFCF/BFCFB
0001199936
ABDO JOHN E
401 EAST LAS OLAS BOULEVARD
SUITE 800
FORT LAUDERDALE
FL
33301
1
1
1
0
Vice Chairman
Class A Common Stock, par value $0.01 per share
2016-09-30
4
F
0
296743
3.85
D
297408
D
Class B Common Stock, par value $0.01 per share
2016-09-30
4
P
0
398752
A
4593643
I
By John E. Abdo Trust under Trust Agreement dated 3/15/76, John E. Abdo, Trustee
Class B Common Stock, par value $0.01 per share
2016-10-02
4
F
0
81579
3.65
D
1098867
D
Class B Common Stock, par value $0.01 per share
2016-10-02
4
P
0
107800
A
4814330
I
By John E. Abdo Trust under Trust Agreement dated 3/15/76, John E. Abdo, Trustee
Class A Common Stock, par value $0.01 per share
3669308
I
By John E. Abdo Trust under Trust Agreement dated 3/15/76, John E. Abdo, Trustee
Represents shares surrendered to the issuer to satisfy the issuer's tax withholding obligation relating to the vesting on September 30, 2016 of certain previously reported restricted stock awards granted to the reporting person. These shares have been cancelled and retired by the issuer.
Represents the closing price of the issuer's Class A Common Stock on September 29, 2016.
On September 30, 2016, the reporting person transferred 166,282 shares of the issuer's Class A Common Stock from his direct holdings to his indirect holdings through the trust. These share amounts reflect that transfer.
Shares of the issuer's Class B Common Stock are convertible on a share-for-share basis into the issuer's Class A Common Stock at any time in the holder's discretion.
Represents shares received in exchange for 73,843 shares of Class A Common Stock of BBX Capital Corporation in accordance with the Share Exchange Agreement dated September 4, 2015 between the parties pursuant to which, in connection with any option exercised by the issuer thereunder, the reporting person is entitled to receive shares of the issuer's Class A or Class B Common Stock having a market value equal to the market value of the shares of BBX Capital's Class A Common Stock acquired by the issuer upon the option exercise, subject to a maximum of 5.4 shares of the issuer's Class A or Class B Common Stock for each share of BBX Capital's Class A Common Stock. The issuer's board of directors approved the exercise of the issuer's option with respect to the shares of BBX Capital's Class A Common Stock subject to restricted stock units which vested on September 30, 2016 and the issuance of shares of the issuer's Class B Common Stock in exchange therefor.
The closing price of the issuer's Class B Common Stock was $3.65 on each of September 29, 2016 and September 30, 2016. The closing price of BBX Capital's Class A Common Stock on September 29, 2016 and September 30, 2016 was $20.56 and $20.63, respectively. Based on such closing prices, the issuer issued to the reporting person 5.4 shares of the issuer's Class B Common Stock in exchange for each share of BBX Capital's Class A Common Stock received by the issuer on September 30, 2016 and October 2, 2016.
On September 30, 2016, the reporting person transferred 663,359 shares of the issuer's Class B Common Stock from his direct holdings to his indirect holdings through the trust. These share amounts reflect that transfer.
Represents shares surrendered to the issuer to satisfy the issuer's tax withholding obligation relating to the vesting on October 2, 2016 of certain previously reported restricted stock awards granted to the reporting person. These shares have been cancelled and retired by the issuer.
Represents the closing price of the issuer's Class B Common Stock on September 30, 2016, the last trading day prior to October 2, 2016.
On October 2, 2016, the reporting person transferred 112,887 shares of the issuer's Class B Common Stock from his direct holdings to his indirect holdings through the trust. These share amounts reflect that transfer.
Represents shares received in exchange for 19,963 shares of BBX Capital's Class A Common Stock pursuant to the Share Exchange Agreement described above. The issuer's board of directors approved the exercise of the issuer's option with respect to the shares of BBX Capital's Class A Common Stock subject to restricted stock units which vested on October 2, 2016 and the issuance of shares of the issuer's Class B Common Stock in exchange therefor.
/s/ Raymond S. Lopez, Chief Financial Officer, BFC Financial Corporation, Attorney-in-Fact for John E. Abdo
2016-10-04