Form 4: ACNB Corp Executive Hayes Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Kevin J. Hayes, SVP/Secretary & General Counsel of ACNB Corp, reports the disposal of shares to cover tax liabilities related to vested restricted stock.
Summary
- On January 1, 2025, Kevin J. Hayes, SVP/Secretary & General Counsel of ACNB Corp, had shares disposed of to cover tax liabilities.
- The disposal involved 305.6278 shares at a price of $39.655 per share.
- These shares were withheld by ACNB Corp and/or its subsidiary ACNB Bank for payment of tax liability on restricted shares previously awarded on March 15, 2023, and March 15, 2024, under the ACNB Bank Variable Compensation Plan and pursuant to the ACNB Corporation 2018 Omnibus Stock Incentive Plan.
- Following the transaction, Hayes beneficially owns 2,403.0582 shares of ACNB Corporation Common stock directly.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a stock transaction for tax purposes, with no inherent positive or negative sentiment.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies, often related to compensation and tax planning. The disposal of shares to cover tax liabilities is a standard practice.
Key Dates
| Date | Description |
|---|---|
| March 15, 2023 | Date of previous restricted share award under the ACNB Bank Variable Compensation Plan. |
| March 15, 2024 | Date of previous restricted share award under the ACNB Bank Variable Compensation Plan. |
| January 1, 2025 | Date of transaction and vesting of restricted shares. |
| January 2, 2025 | Deemed execution date of the transaction. |
| January 3, 2025 | Date of signature on the Form 4. |
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