SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
  
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
MacDonald W. Timothy

(Last) (First) (Middle)
BOSTON PRIVATE FINANCIAL HOLDINGS, INC.
TEN POST OFFICE SQUARE

(Street)
BOSTON MA 02109

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BOSTON PRIVATE FINANCIAL HOLDINGS INC [ BPFH ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, Chief Risk Officer
3. Date of Earliest Transaction (Month/Day/Year)
05/15/2020
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/15/2020 M 7,793 A $6.155 102,498.47 D
Common Stock 05/15/2020 F 2,288 D $6.155 100,210.47 D
Common Stock 05/15/2020 M 6,414 A $6.155 106,624.47 D
Common Stock 05/15/2020 F 1,883 D $6.155 104,741.47 D
Common Stock 05/15/2020 M 1,504 A $6.155 106,245.47 D
Common Stock 05/15/2020 F 442 D $6.155 105,803.47 D
Common Stock 05/18/2020 S 30 D $6.43 105,773.47 D
Common Stock 05/18/2020 S 30 D $6.44 105,743.47 D
Common Stock 05/18/2020 S 30 D $6.47 105,713.47 D
Common Stock 05/18/2020 S 60 D $6.54 105,653.47 D
Common Stock 05/18/2020 S 30 D $6.55 105,623.47 D
Common Stock 05/18/2020 S 90 D $6.56 105,533.47 D
Common Stock 05/18/2020 S 30 D $6.61 105,503.47 D
Common Stock 05/18/2020 S 30 D $6.66 105,473.47 D
Common Stock 05/18/2020 S 30 D $6.72 105,443.47 D
Common Stock 05/18/2020 S 30 D $6.74 105,413.47 D
Common Stock 05/18/2020 S 7 D $6.76 105,406.47 D
Common Stock 05/18/2020 S 7 D $6.765 105,399.47 D
Common Stock 05/18/2020 S 4 D $6.77 105,395.47 D
Common Stock 05/18/2020 S 10 D $6.775 105,385.47 D
Common Stock 05/18/2020 S 42 D $6.78 105,343.47 D
Common Stock 05/18/2020 S 8 D $6.785 105,335.47 D
Common Stock 05/18/2020 S 33 D $6.79 105,302.47 D
Common Stock 05/18/2020 S 30 D $6.82 105,272.47 D
Common Stock 05/18/2020 S 2,266 D $6.41 103,006.47 D
Common Stock 05/18/2020 S 100 D $6.42 102,906.47 D
Common Stock 05/18/2020 S 200 D $6.43 102,706.47 D
Common Stock 05/18/2020 S 100 D $6.45 102,606.47 D
Common Stock 05/18/2020 S 100 D $6.46 102,506.47 D
Common Stock 05/18/2020 S 100 D $6.5 102,406.47 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Performance Restricted Stock Units (1) 05/15/2020 M 7,793 (1) (1) Common Stock 9,621(2) $0 0 D
Restricted Stock Units (3) 05/15/2020 M 6,414 (3) (3) Common Stock 6,414 $0 0 D
Restricted Stock Units (4) 05/15/2020 M 1,504 (4) (4) Common Stock 1,504 $0 3,009 D
Stock Option (Right to Buy) $6.16 05/15/2020 A 34,965 (5) 05/15/2030 Common Stock 34,965 $0 34,965 D
Restricted Stock Units (4) 05/15/2020 A 8,117 (4) (4) Common Stock 8,117 $0 8,117 D
Performance Restricted Stock Units (6) 05/15/2020 A 24,351 (6) (6) Common Stock 24,351 $0 24,351 D
Explanation of Responses:
1. Each Performance Restricted Stock Unit represents a contingent right to receive one share of the Company's common stock. Performance Restricted Stock Units vest based on the Company's performance for the period January 1, 2017 through December 31, 2019.
2. Number represents targeted performance shares initially granted for the 2017-2019 performance period. Actual shares earned were 81% of the targeted performance shares based on performance for the performance period.
3. Each Restricted Stock Unit represents a contingent right to receive one share of the Company's common stock. Restricted Stock Units vest in full on the third anniversary of the grant date.
4. Each Restricted Stock Unit represents a contingent right to receive one share of the Company's common stock. Restricted Stock Units vest ratably over a three-year period from the grant date.
5. Each Non-Qualified Stock Option represents a contingent right to purchase one share of the Company's common stock. Non-Qualified Stock Options vest ratably over a four-year period from the grant date.
6. Each Performance Restricted Stock Unit represents a contingent right to receive one share of the Company's common stock. Performance Restricted Stock Units vest based on the Company's performance for the period January 1, 2020 through December 31, 2022.
Remarks:
This Form 4 filing is one of two for the Reporting Person.
/s/ Christopher A. Cooper, attorney-in-fact for Mr. MacDonald 05/19/2020
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.