ServisFirst Bancshares, Inc. Annual report pursuant to Section 13 and 15(d)

EMPLOYEE AND DIRECTOR BENEFITS (Tables)

12 Months Ended

Dec. 31, 2016

The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.

The following tables summarize stock option activity:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
							(In Thousands)
Year Ended December 31, 2016:
Outstanding at beginning of year		2,498,834	$	6.66		6.3	$	42,746
Granted		241,000		20.15		9.1		4,166
Exercised		(682,500)		4.28		3.9		22,629
Forfeited		(31,000)		11.04		6.8		818
Outstanding at end of year		2,026,334	$	9.00		6.2	$	57,636

Exercisable at December 31, 2016		928,536	$	5.08		4.8	$	30,051

Year Ended December 31, 2015:
Outstanding at beginning of year		3,245,834	$	4.69		5.9	$	38,256
Granted		324,000		16.63		9.2		2,311
Exercised		(1,051,000)		3.62		2.7		21,177
Forfeited		(20,000)		8.40		7.1		-
Outstanding at end of year		2,498,834	$	6.66		6.3	$	42,746

Exercisable at December 31, 2015		410,836	$	4.84		5.4	$	7,775

Year Ended December 31, 2014:
Outstanding at beginning of year		4,657,800	$	3.85		5.5	$	14,300
Granted		278,000		8.42		9.3		2,339
Exercised		(1,677,966)		2.96		2.5		22,679
Forfeited		(12,000)		5.96		7.9		-
Outstanding at end of year		3,245,834	$	4.69		5.9	$	38,256

Exercisable at December 31, 2014		1,182,836	$	3.88		4.1	$	14,901

Exercisable options at December 31, 2016 were as follows:

Range of Exercise Price		Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
								(In Thousands)
$	4.17		234,336	$	4.17		3.6	$	7,797
	5.00		522,000		5.00		4.7		16,934
	5.50		90,000		5.50		6.2		2,875
	6.92		75,000		6.92		7.0		2,289
	15.74		7,200		15.74		8.1		156
			928,536		5.08		4.8	$	30,051