Form 4 for VLY VALLEY NATIONAL BANCORP

Accepted 2022-04-05 00:00:00 ET · period of report 2022-04-01 · accession 0000714310-22-000069 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
D	2022-04-05	2022-04-01	VLY	MENDELSON AVNER	Dir	A - Grant	$0.00	+132.2K	133.3K	+12,015%	$0
D	2022-04-05	2022-04-01	VLY	MENDELSON AVNER	Dir	A - Grant	$0.00	+1.21M	1.21M	New	$0

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Stock	2022-04-01	A	A	132,162	$0.00	133,262	D	—	—	(F1) Effective April 1, 2022, Valley National Bancorp ("Valley") completed its acquisition of Bank Leumi le-Israel Corporation, a New York corporation ("Leumi USA"), pursuant to the Agreement and Plan of Merger, dated as of September 22, 2021 (the "Merger Agreement"). In connection with the merger, Valley assumed the reporting person's non-competition agreement with Leumi USA and the related restricted stock unit ("RSU") award. The RSU award will vest in equal increments on April 1, 2023, April 1, 2024 and April 1, 2025.
2	Derivative	Common Stock	2022-04-01	A	A	1,207,141	$0.00	1,207,141	D	$8.47 · 2022-04-01 to 2025-08-22	1,207,141 Common Stock	(F2) Pursuant to the Merger Agreement, at the effective time of the merger, each fully vested outstanding Leumi USA stock option held by an active employee of Leumi USA was converted into a stock option to acquire shares of Valley Common Stock, with the number of shares underlying each such stock option and the applicable exercise price adjusted based on an exchange ratio of 4.225 shares of Valley Common Stock per share of Leumi USA Common Stock.