Form 4: Brookline Bancorp CFO Disposes Shares for Tax

Brookline Bancorp's Co-President and CFO, Carl M. Carlson, disposed of 6,578 common shares valued at $10.28 each, primarily for tax obligations related to restricted stock vesting.

Summary

• Carl M. Carlson, Co-President and CFO of Brookline Bancorp Inc. (BRKL), disposed of 6,578 shares of common stock.
• The shares were disposed of at a price of $10.28 per share, totaling approximately $67,624.24.
• These transactions (coded 'F') represent shares withheld for tax liabilities upon the vesting of performance-based restricted stock.
• The shares vested on August 2, 2025, as part of the company's 2021 Stock Option and Incentive Plan.
• Following these transactions, Carl M. Carlson directly beneficially owns 171,104 common shares and indirectly owns 1,033 shares via an ESOP, totaling 172,137 shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it represents a reduction in direct insider holdings, the disposal is for tax purposes upon vesting of performance-based awards, indicating the company met its performance targets. This is a routine and expected event in executive compensation.

Positives

• The vesting of performance-based restricted stock indicates that certain pre-defined performance metrics were met, which is generally a positive indicator for the company's operational success.

Negatives

• A reduction in direct insider ownership, even if for tax purposes, can be perceived as slightly negative as it decreases the executive's direct stake in the company.

Future Outlook

NA

Industry Context

This is a routine insider transaction common across all industries, particularly for executives receiving equity compensation. It reflects the standard practice of withholding shares to cover tax obligations upon the vesting of restricted stock.

Comparison to Industry Standards

• These types of 'F' transactions are standard practice for executives across publicly traded companies globally when equity awards vest. They are a common mechanism for managing tax liabilities associated with stock compensation and do not typically indicate a change in investment sentiment by the insider.
• No specific comparable companies, projects, or results are relevant for this type of filing as it pertains to a routine executive compensation event.

Stakeholder Impact

• Shareholders: Minor impact. The reduction in direct insider ownership is offset by the fact that the shares were disposed for tax purposes upon vesting, which is a routine event and indicates performance targets were met.

Next Steps

• The remaining restricted stock shares will continue to vest on the third anniversary of their grant date based on performance metrics, as per the Brookline Bancorp, Inc. 2021 Stock Option and Incentive Plan.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction where shares were disposed of to cover tax liabilities upon the vesting of restricted stock. This is a common and expected event for executives receiving equity compensation and does not signal a change in the company's fundamentals or the executive's long-term outlook. Therefore, it does not warrant a change in investment recommendation.

Keywords

Brookline Bancorp, BRKL, Carl M. Carlson, SEC Form 4, Insider Trading, Stock Vesting, Restricted Stock, CFO, Financial Services, Banking