Form 4: Affinity Bancshares CEO Edward John Cooney Reports Changes in Beneficial Ownership
SEC Form 4
CEO Edward John Cooney reports a disposition of Affinity Bancshares common stock to cover tax obligations related to vesting restricted stock, along with holdings in stock options and indirect ownership through IRA and ESOP accounts.
Summary
- On July 1, 2024, Edward John Cooney, CEO of Affinity Bancshares, Inc., reported a transaction involving the disposition of 2,713 shares of common stock at a price of $21.07.
- This disposition was related to tax obligations.
- Following the transaction, Cooney directly owns 77,051 shares of common stock.
- Cooney also has indirect ownership of 27,920 shares through an IRA, 5,130 shares through a spouse's IRA, and 2,674 shares through an ESOP.
- Additionally, Cooney holds options for 40,808 shares exercisable at $7.77 (vesting since April 30, 2021), 40,000 shares exercisable at $14.85 (vesting since July 1, 2023), and 5,000 shares exercisable at $14.40 (vesting since March 21, 2024).
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting changes in beneficial ownership, which is a neutral event.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock.
Stakeholder Impact
- The transaction may have a minor impact on shareholders due to the change in insider ownership.
- The disposition of shares to cover tax obligations is a normal occurrence and doesn't necessarily indicate a change in the CEO's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 04/30/2021 | Commencement date for vesting of stock options at a rate of 20% per year for 40,808 shares at an exercise price of $7.77. |
| 07/01/2023 | Commencement date for vesting of restricted stock at a rate of 33% per year. |
| 07/01/2023 | Commencement date for vesting of stock options at a rate of 33% per year for 40,000 shares at an exercise price of $14.85. |
| 03/21/2024 | Commencement date for vesting of restricted stock at a rate of 33% per year. |
| 03/21/2024 | Commencement date for vesting of stock options at a rate of 33% per year for 5,000 shares at an exercise price of $14.40. |
| 07/01/2024 | Date of transaction: Disposition of 2,713 shares of common stock at $21.07 per share. |
| 07/03/2024 | Date of filing. |
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