Form 4: Ameriserv Financial Inc Director Acquires Shares as Part of Annual Retainer
SEC Form 4
J Michael Adams Jr, a director at Ameriserv Financial Inc, acquired 10,602 shares of common stock at $2.5937 per share as part of an annual retainer.
Summary
- On May 23, 2024, J Michael Adams Jr, a director of Ameriserv Financial Inc, acquired 10,602 shares of common stock.
- The shares were acquired at a price of $2.5937 per share.
- This acquisition was part of an annual retainer of $27,500 payable in shares of common stock to each independent director.
- Following the transaction, Adams directly owns 139,086 shares of common stock.
- Adams also indirectly owns 58 shares through a minor child and 23,897 shares through a voting trust.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as the transaction reflects standard compensation practices and insider confidence.
Positives
- The director's acquisition of shares demonstrates confidence in the company.
Industry Context
Directors receiving stock as part of their compensation is a common practice to align their interests with those of shareholders.
Stakeholder Impact
- The transaction could have a slightly positive impact on shareholders as it aligns the director's interests with theirs.
Key Dates
| Date | Description |
|---|---|
| 05/23/2024 | Date of transaction: J Michael Adams Jr acquired shares of Ameriserv Financial Inc. |
| 05/24/2024 | Date of signature: Sharon M. Callihan signed the document as Attorney-in-Fact. |
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