Form 4: Amalgamated Financial Corp. Executive Jason Darby Reports Changes in Beneficial Ownership

Senior Executive VP and CFO Jason Darby reports acquisition and disposal of Amalgamated Financial Corp. shares due to vesting of performance share units and withholding for taxes.

Summary

• On February 15, 2025, Jason Darby, Senior Executive VP and CFO of Amalgamated Financial Corp., reported changes in beneficial ownership of the company's common stock.
• Darby acquired 3,785 shares of common stock related to the vesting of performance share units at a price of $0.
• He disposed of 1,348 shares at $33.47, 528 shares at $36.69, and 658 shares at $36.69 due to withholding for taxes related to the release of performance stock units and vesting of restricted stock unit installments.
• Following these transactions, Darby beneficially owns 51,507.5 shares of Amalgamated Financial Corp. common stock, including 48.50 shares obtained through the company's dividend reimbursement plan in Q4 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard regulatory filing detailing stock transactions. The vesting of performance shares is generally positive, but the subsequent sale for tax purposes is a routine event.

Positives

• The vesting of performance share units indicates that performance goals were likely met, which is a positive signal.

Future Outlook

There is no specific future outlook provided in this document.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the holdings and transactions of key personnel.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders, as mandated by the SEC.
• The vesting of performance share units is a common form of executive compensation, aligning executive interests with company performance, similar to practices at companies like JPMorgan Chase & Co. and Bank of America.
• Tax withholding on vesting shares is also a standard procedure, ensuring compliance with tax regulations, comparable to practices at Goldman Sachs and Citigroup.

Stakeholder Impact

• The vesting of performance share units and subsequent tax-related sales may have a minor impact on shareholders due to the increased number of shares in the market.

Key Dates

Keywords

beneficial ownership, Form 4, Jason Darby, Amalgamated Financial Corp., AMAL, stock, performance share units, restricted stock units, insider trading