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Form 4 Filed by Cerny Craig J on May 09, 2008


This form 4 (insider trading filing) was submitted to the Securities and Exchange Commission (SEC) by insider Cerny Craig J on May 09, 2008. The CIK number of this insider is 1022617. At the time of this reporting, Cerny Craig J is the Chairman and CEO of Harrington West Financial Group Inc/ca . See all insider stock transactions reported by Cerny Craig J and all stock buys, sales, and option exercises made by insiders at Harrington West Financial Group Inc/ca . The stock ticker symbol of Harrington West Financial Group Inc/ca is HWFG.

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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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*
CERNY CRAIG J

(Last) (First) (Middle)
14100 N. NORTHSIGHT BOULEVARD

(Street)
SCOTTSDALE AZ 85260

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
HARRINGTON WEST FINANCIAL GROUP INC/CA [ HWFG ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Chairman and CEO
3. Date of Earliest Transaction (Month/Day/Year)
05/09/2008
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 83,400 I By Wife
Common Stock 20,510 I By Cerny Family Trust
Common Stock 05/09/2008 P 6,900 A $5.9 536,299 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
Employee Stock Option $6.94 ( 1 ) ( 2 ) 07/21/2008 Common Stock 25,200 25,200 ( 1 ) D
Employee Stock Option $6.94 ( 1 ) ( 3 ) 07/21/2009 Common Stock 27,000 27,000 ( 1 ) D
Employee Stock Option $7.78 ( 1 ) ( 4 ) 01/09/2012 Common Stock 9,000 9,000 ( 1 ) D
Employee Stock Option $13.68 ( 1 ) ( 5 ) 01/06/2014 Common Stock 6,000 6,000 ( 1 ) D
Employee Stock Option $13.68 ( 1 ) ( 6 ) 01/06/2014 Common Stock 6,000 6,000 ( 1 ) D
Employee Stock Option $18.18 ( 7 ) 12/16/2014 Common Stock 15,000 15,000 D
Stock Option $16.8 ( 8 ) 01/12/2016 Common Stock 15,000 15,000 D
Stock Option $17.32 ( 9 ) 01/09/2017 Common Stock 15,000 15,000 D
Stock Option $10.77 ( 10 ) 01/09/2018 Common Stock 17,500 17,500 D
Explanation of Responses:
1. On February 11, 2004, HWFG declared a 20% common stock dividend, payable to all holders of record on February 25, 2004. This number is split adjusted for that dividend.
2. The option vested in four equal annual installments beginning on 7/22/99 and, therefore, is currently fully exercisable.
3. The option vests in four equal annual installments beginning on 7/22/00.
4. The option vests in four equal annual installments beginning on 1/9/03.
5. The option vests in four equal annual installments beginning on 1/6/05
6. The option vests in four equal annual installments beginning on 2/24/05
7. The option vests in four equal annual installments beginning on 12/16/2005.
8. The option vests in four equal annual installments beginning on 1/12/07.
9. The option vests in four equal annual installments beginning on 01/09/2008.
10. The option vests in four equal annual installments beginning on 01/09/2009.
Remarks:
/s/ Craig J. Cerny 05/09/2008
** 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).
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