Form 4: Bogota Financial Corp. Director Masterson Increases Stake with Recent Stock Purchases

Director John J. Masterson of Bogota Financial Corp. [BSBK] recently acquired additional shares of common stock, increasing his holdings.

Summary

• On March 6, 2024, John J. Masterson, a director of Bogota Financial Corp., purchased 2,300 shares of common stock at a price of $7.51 per share.
• Following this transaction, Masterson directly owns 167,255 shares of common stock, including restricted stock that vests at a rate of 20% per year starting September 2, 2022.
• On March 7, 2024, Masterson purchased an additional 2,000 shares of common stock at $7.40 per share, bringing his total direct ownership to 169,255 shares.
• Masterson also holds 32,235 stock options that vest at a rate of 20% per year commencing on September 2, 2022, with an exercise price of $10.45.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. A director purchasing shares suggests confidence, but it's a relatively small transaction.

Positives

• A director increasing their stake in the company can be seen as a positive signal, indicating confidence in the company's future prospects.

Industry Context

Form 4 filings are routine disclosures required by the SEC when insiders, such as directors and officers, trade in their company's stock. These filings are closely watched by investors for insights into management's sentiment about the company's prospects.

Comparison to Industry Standards

• Comparing insider trading activity at Bogota Financial Corp. to similar community banks would require analyzing Form 4 filings of directors and officers at peer institutions.
• For example, investors might compare Masterson's purchases to insider activity at companies like OceanFirst Financial Corp. or Lakeland Bancorp to gauge relative sentiment.
• Analyzing the volume and frequency of insider transactions relative to the company's market capitalization can provide a more nuanced understanding of the significance of these trades.

Stakeholder Impact

• The increased stake of a director could positively influence shareholder confidence.

Key Dates