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Post-deal, CEO's stake in Sussex Bancorp down to less than 5%

Sussex Bancorp President and CEO Anthony Labozzetta ceased to beneficially own more than 5% of the Rockaway, N.J.-based company's common stock upon closing of the company's acquisition of Community Bank Bergen County New Jersey on Jan. 4 and the related share issuance.

Post-deal, Labozzetta — who is also the president and CEO of Sussex Bank beneficially owns 249,953 shares of common stock, or a 3.4% stake in Sussex Bancorp, including shares of common stock owned by Labozzetta's wife and sons, according to an ownership filing.

The stake is based on the sum of 7,926,308 shares of common stock issued and outstanding as of Jan. 4, and 19,201 shares of common stock that would be issued and outstanding if options exercisable by Labozzetta within 60 days were exercised.