FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Gilhooly Stephen J
2. Issuer Name and Ticker or Trading Symbol

TIB FINANCIAL CORP. [ TIBB ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
EVP/Treasurer
(Last)          (First)          (Middle)

599 9TH STREET NO., SUITE 101
3. Date of Earliest Transaction (MM/DD/YYYY)

1/18/2011
(Street)

NAPLES, FL 34102
(City)        (State)        (Zip)
4. 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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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, $.10 par value   1/18/2011     P    212   (1) A $15.00   234   (6) I   IRA  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Stock Options   $1389.58                    9/30/2010   (5) 4/18/2016   Common Stock   266   (2)   266   D    
Stock Options   $1438.59                    9/30/2010   (5) 4/5/2017   Common Stock   44   (3)   44   D    
Stock Options   $788.96                    9/30/2010   (5) 3/25/2018   Common Stock   52   (4)   52   D    

Explanation of Responses:
( 1)  Subscription Rights Offering to Legacy Shareholders of record date July 12, 2010 - Mr. Gilhooly acquired 212 shares. The Rights Offering Prospectus was mailed December 20, 2010 and the subscription rights expired 5:00 p.m. January 18, 2011.
( 2)  266 Stock option shares granted April 18, 2006 expiring April 18, 2016.
( 3)  44 Stock option shares granted April 5, 2007 expiring April 5, 2017.
( 4)  52 Stock option shares granted March 25, 2008 expiring March 25, 2018.
( 5)  All stock options became fully vested 9/30/2010 as a result of the North American Financial Holdings, Inc. investment in TIB Financial Corp.
( 6)  On December 15, 2010, the common stock of TIB split one for 100, resulting in the reduction of the number of shares owned by the reporting person.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Gilhooly Stephen J
599 9TH STREET NO.
SUITE 101
NAPLES, FL 34102


EVP/Treasurer

Signatures
Vicki L. Walker, Attorney-In-Fact for Stephen J. Gilhooly 1/25/2011
** 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 control number.
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