Form 4: Capital Bancorp Director Scott Brannan Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Scott Brannan of Capital Bancorp Inc. reports a change in beneficial ownership of common stock due to a transfer from a UTMA account, along with holdings of stock options.
Summary
- Scott Brannan, a director at Capital Bancorp Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- The filing indicates a transfer of 286 common stock shares from a UTMA account for his daughter, as she reached the age of majority.
- Following this transaction, Brannan directly owns 2,505 shares of common stock.
- He also indirectly owns shares through UTMA accounts for his grandchildren: 285 shares for grandchild 1, 912 shares each for grandchildren 2 and 3, and 286 shares for grandchild 4.
- Brannan also holds stock options with various exercise prices and expiration dates, including 3,000 options at $13.89 expiring on 12/31/2025, 2,250 options at $26.41 expiring on 12/31/2026, 2,352 options at $23.54 expiring on 01/01/2028, and 2,800 options at $24.2 expiring on 01/01/2029.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, and does not contain any information that would be considered positive or negative from an investment perspective.
Industry Context
Form 4 filings are a standard part of regulatory compliance for company insiders, providing transparency into their transactions and holdings.
Comparison to Industry Standards
- Form 4 filings are a common practice for all publicly traded companies in the US, including financial institutions like Capital Bancorp.
- The reporting of stock option holdings and transfers from UTMA accounts is consistent with standard SEC requirements for insider transactions.
- Comparable companies would also have similar filings when directors or officers change their beneficial ownership.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the director's holdings.
- The transfer of shares from the UTMA account does not have a direct impact on the company's operations or financial performance.
Key Dates
| Date | Description |
|---|---|
| 12/31/2021 | Start date for vesting of 3,000 stock options at $13.89. |
| 12/31/2022 | Start date for vesting of 2,250 stock options at $26.41. |
| 01/01/2024 | Start date for vesting of 2,352 stock options at $23.54. |
| 01/05/2025 | Date of the common stock transfer from the UTMA account. |
| 01/01/2025 | Start date for vesting of 2,800 stock options at $24.2. |
| 01/07/2025 | Date of the Form 4 filing. |
| 12/31/2025 | Expiration date for 3,000 stock options at $13.89. |
| 12/31/2026 | Expiration date for 2,250 stock options at $26.41. |
| 01/01/2028 | Expiration date for 2,352 stock options at $23.54. |
| 01/01/2029 | Expiration date for 2,800 stock options at $24.2. |
Keywords
beneficial ownership, Form 4, stock options, UTMA, Capital Bancorp, director, common stock, securities
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