BHLB.Berkshire Hills Bancorp INC

Form 4: Berkshire Hills Bancorp Inc: Officer Conn Kevin Reports Changes in Beneficial Ownership

Sentiment:

SEC Form 4

📋All filings for Berkshire Hills Bancorp INC
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Kevin Conn, a Senior Managing Director at Berkshire Hills Bancorp Inc, reports changes in beneficial ownership of common stock due to stock awards and vesting.

Summary

  • On April 1, 2024, Kevin Conn, a Senior Managing Director at Berkshire Hills Bancorp Inc, reported changes in his beneficial ownership of the company's common stock.
  • The transactions involved the disposition of 1,858 shares to cover taxes at a price of $22.25 per share and the acquisition of 2,422 shares through stock awards.
  • Following these transactions, Conn directly owns 21,784 shares and indirectly owns shares through various stock award plans.
  • The stock awards are granted under the Berkshire Hills Bancorp, Inc. equity compensation plans and vest over several years.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Positives

  • The acquisition of shares through stock awards suggests the company is using equity compensation to incentivize its executives.
  • Vesting schedules encourage long-term commitment from the executive.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency regarding the ownership stake of key personnel.

Stakeholder Impact

  • Shareholders gain insight into executive compensation and ownership structure.
  • Employees may be impacted by the overall success of the company, which is influenced by executive performance.

Key Dates

DateDescription
04/01/2022Commencement of vesting for Stock Award I (50% vesting in three equal annual installments).
04/01/2023Commencement of vesting for Stock Award II (50% vesting in three equal annual installments).
01/30/2024Commencement of vesting for Stock Award III (50% vesting in three equal annual installments).
04/01/2024Transaction date for the reported changes in beneficial ownership; Commencement of vesting for Stock Award IV (50% vesting in three equal annual installments); Remaining 50% vesting of Stock Award I.
04/03/2024Date of signature for the Form 4 filing.
04/01/2025Commencement of vesting for Stock Award V (50% vesting in three equal annual installments); Remaining 50% vesting of Stock Award II.
01/30/2026Remaining 50% vesting of Stock Award III.
04/01/2026Remaining 50% vesting of Stock Award IV.
04/01/2027Remaining 50% vesting of Stock Award V.

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