Statement of Changes in Beneficial Ownership (4)
May 01 2014 - 12:41PM
Edgar (US Regulatory)
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FORM 4
[
X
]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
Estimated average burden
hours per response...
0.5
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
WAGNER JOHN L
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2. Issuer Name
and
Ticker or Trading Symbol
WASHINGTON BANKING CO
[
WBCO
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__
X
__ Director
_____ 10% Owner
__
X
__ Officer (give title below)
_____ Other (specify below)
CEO
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(Last)
(First)
(Middle)
450 SW BAYSHORE DRIVE
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3. Date of Earliest Transaction
(MM/DD/YYYY)
5/1/2014
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(Street)
OAK HARBOR, WA 98277
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock
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5/1/2014
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D
(1)
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77675
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D
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(1)
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0
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D
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Common Stock
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5/1/2014
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D
(1)
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7403
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D
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(1)
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0
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I
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By 401(k)
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Common Stock
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5/1/2014
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D
(1)
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2332
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D
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(1)
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0
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I
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By IRA
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Restricted Stock Units
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$0
(2)
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5/1/2014
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D
(2)
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1667
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6/23/2012
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6/23/2014
(2)
(3)
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Common Stock
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1667
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(2)
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0
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D
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Restricted Stock Units
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$0
(2)
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5/1/2014
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D
(2)
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2000
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2/23/2013
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2/23/2015
(2)
(3)
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Common Stock
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2000
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(2)
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0
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D
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Restricted Stock Units
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$0
(2)
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5/1/2014
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D
(2)
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5000
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1/24/2014
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1/24/2016
(2)
(3)
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Common Stock
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5000
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(2)
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0
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D
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Restricted Stock Units
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$0
(2)
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5/1/2014
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D
(2)
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3750
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1/21/2015
(2)
(4)
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1/21/2015
(2)
(4)
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Common Stock
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3750
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(2)
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0
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D
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Incentive Stock Options
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$14.60
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5/1/2014
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D
(5)
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496
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4/17/2007
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4/17/2016
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WBCO Common Stock
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496
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$14.60
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0
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D
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Incentive Stock Options
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$15.98
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5/1/2014
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D
(5)
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2627
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4/26/2008
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4/26/2017
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WBCO Common Stock
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2627
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$15.98
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0
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D
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Incentive Stock Options
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$9.11
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5/1/2014
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D
(5)
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12000
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6/26/2009
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6/26/2018
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WBCO Common Stock
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12000
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$9.11
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0
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D
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Explanation of Responses:
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(
1)
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Common stock of Washington Banking Company (WBCo) disposed of in connection with the merger of WBCo with and into Heritage Financial Corporation (Heritage) on May 1, 2014 pursuant to the Agreement and Plan of Merger, dated as of October 23, 2013, between WBCo and Heritage, each share of WBCo's common stock was exchanged for $2.75 and 0.89 share of Heritage common stock.
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(
2)
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Restricted Stock Units (RSU) of WBCo disposed of pursuant to the Agreement and Plan of Merger. Each WBCo RSU will be converted into the right to receive fully-vested shares of Heritage common stock per the equity exchange ratio as referred to in the Agreement and Plan of Merger.
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(
3)
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Per the award agreement, remaining units vest in the event of a change of control.
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(
4)
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100% vesting at 1 year anniversary or change of control.
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(
5)
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Stock options of WBCo disposed of pursuant to the Agreement and Plan of Merger. Each WBCo option will be converted into an option to purchase Heritage common stock per the equity exchange ratio as referred to in the Agreement and Plan of Merger.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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WAGNER JOHN L
450 SW BAYSHORE DRIVE
OAK HARBOR, WA 98277
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X
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CEO
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Signatures
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Shelly L. Angus, POA for Mr. Wagner
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5/1/2014
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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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 control number.
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