Form 4: Berkshire Hills Bancorp Executive Sean Gray Reports Share Transactions
SEC Form 4 Filing
Sean Gray, a Senior Executive Vice President at Berkshire Hills Bancorp, reported the disposal of 2,212 shares and the vesting of several stock awards.
Summary
- Sean Gray, a Senior Executive Vice President at Berkshire Hills Bancorp, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- The report indicates that 2,212 shares were disposed of at a price of $29.13 per share.
- The filing also shows the vesting of shares from previous stock awards, including 2,665 shares from Stock Award XVII, 2,196 shares from Stock Award XVIII, and 2,642 shares from Stock Award XIX.
- Additionally, the report notes that Mr. Gray holds 5,285 shares indirectly through Stock Award XIX, 2,196 shares indirectly through Stock Award XVIII, and 2,707 shares indirectly through a 401(k) plan.
- The stock awards vest in three equal annual installments, with vesting dates beginning on January 30, 2023, January 30, 2024, and January 30, 2025, depending on the specific award.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive, with no indication of positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry. It provides transparency into the executive's holdings and transactions.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the United States, ensuring transparency of insider transactions.
- The vesting schedules and equity compensation plans are typical for executive compensation in the financial sector.
- The reported transactions are consistent with the requirements of Section 16 of the Securities Exchange Act of 1934.
Stakeholder Impact
- The transactions may have a minor impact on shareholders as they reflect changes in insider ownership.
- The vesting of stock awards is part of the executive compensation package, which is of interest to shareholders.
Key Dates
| Date | Description |
|---|---|
| 01/30/2023 | First vesting date for Stock Awards granted under the 2018 Equity Compensation Plan. |
| 01/30/2024 | First vesting date for Stock Awards granted under the 2022 Equity Compensation Plan. |
| 01/30/2025 | Date of the reported transactions and first vesting date for some Stock Awards granted under the 2022 Equity Compensation Plan. |
| 02/03/2025 | Date the Form 4 was signed. |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Equity Compensation, Berkshire Hills Bancorp, Share Vesting, Executive Compensation
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