Form 4: Berkshire Hills Bancorp SEVP Sean Gray Reports Changes in Beneficial Ownership
SEC Form 4
Sean Gray, SEVP of Berkshire Hills Bancorp, reports changes in beneficial ownership of company stock following vesting of restricted stock and tax withholding.
Summary
- On March 3, 2025, Sean Gray, SEVP of Berkshire Hills Bancorp, reported changes in his beneficial ownership of the company's common stock.
- This included the acquisition of 6,749 shares of restricted stock that vested at 56.3% of target from a grant on January 30, 2022, and the disposition of 2,251 shares for tax withholding at a price of $28.11 per share.
- Following these transactions, Gray directly owns 108,077 shares of Berkshire Hills Bancorp common stock.
- He also indirectly owns 5,285 shares by Stock Award XIX, 2,196 shares by Stock Award XVIII, and 2,707 shares through a 401(k).
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 01/30/2022 | Reporting person was granted 11,988 shares of restricted stock subject to a three-year cliff vesting schedule and subject to the satisfaction of certain performance criteria. |
| 01/30/2024 | Stock Awards granted pursuant to the Berkshire Hills Bancorp, Inc. 2022 Equity Compensation Plan vest in three equal annual installments beginning on this date. |
| 01/30/2025 | Stock Awards granted pursuant to the Berkshire Hills Bancorp, Inc. 2022 Equity Compensation Plan vest in three equal annual installments beginning on this date. |
| 03/03/2025 | Date of transaction: acquisition of restricted stock and disposition for tax withholding. |
| 03/05/2025 | Date of Form 4 filing. |
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