Initial Statement of Beneficial Ownership (3)
May 05 2020 - 1:06PM
Edgar (US Regulatory)
FORM 3
|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
|
OMB APPROVAL
OMB Number:
3235-0104
Estimated average burden
hours per response...
0.5
|
|
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
|
|
|
1. Name and Address of Reporting Person
*
Tamburro James A. |
2. Date of Event Requiring Statement (MM/DD/YYYY)
5/5/2020
|
3. Issuer Name and Ticker or Trading Symbol
DELMAR BANCORP [DBCP]
|
|
(Last)
(First)
(Middle)
C/O DELMAR BANCORP, 2245 NORTHWOOD DRIVE |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
|
|
(Street)
SALISBURY, MD 21801
(City)
(State)
(Zip)
| 5. If Amendment, Date Original Filed(MM/DD/YYYY)
| 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 Beneficially Owned
|
1.Title of Security
(Instr. 4) | 2. Amount of Securities Beneficially Owned
(Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) | 4. Nature of Indirect Beneficial Ownership
(Instr. 5) |
| Common Stock | 14680 (1) | D |
|
| Common Stock | 700 (1) | I | By spouse |
| Common Stock | 556 (1) | I | By spouse's IRA |
| Common Stock | 585 (1) | I | By spouse as custodian for children |
| Common Stock | 36 (1) | I | As custodian for child |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
|
1. Title of Derivate Security
(Instr. 4) | 2. Date Exercisable and Expiration Date
(MM/DD/YYYY) | 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) | 6. Nature of Indirect Beneficial Ownership
(Instr. 5) |
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
| Stock Option (right to buy) | (2) | 3/26/2023 | Common Stock | 1028 (3) | $4.14 (3) | D |
|
| Explanation of Responses: |
| (1) | The common stock reported herein is common stock of the Issuer. On March 1, 2018, Liberty Bell Bank was acquired by the Issuer (the "Acquisition"), in which Liberty Bell Bank shareholders received 0.2857 shares of the Issuer's common stock for each share of Liberty Bell Bank common stock, or cash consideration, or a combination thereof. The number of shares reflects the Reporting Person's holdings following the Acquisition. |
| (2) | The option was originally exercisable in five equal annual installments on March 26, 2014, March 26, 2015, March 26, 2016, March 26, 2017, and March 27, 2018; however, the option became fully exercisable in connection with the Acquisition. |
| (3) | The option reported herein is an option to purchase common stock of the Issuer. At the effective time of the Acquisition, each outstanding option to purchase shares of common stock of Liberty Bell Bank was assumed by the Issuer and converted into an option to purchase shares of the Issuer's common stock, and the exercise price for each option was correspondingly adjusted. The number of shares reflects the Reporting Person's holdings following such conversion, and the exercise price reflects the exercise price following such conversion. |
Reporting Owners
|
| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
Tamburro James A.
C/O DELMAR BANCORP
2245 NORTHWOOD DRIVE
SALISBURY, MD 21801 | X |
|
|
|
Signatures
|
| J. Adam Sothen, as attorney-in-fact | | 5/5/2020 |
| **Signature of Reporting Person | Date |