Form 4: Cathay General Bancorp Executive May Chan Reports Stock Transactions
SEC Form 4
May Chan, SVP and General Counsel of Cathay General Bancorp, reports the vesting and disposition of restricted stock units.
Summary
- May Chan, SVP and General Counsel of Cathay General Bancorp, filed a Form 4 on July 2, 2024, reporting transactions related to restricted stock units and common stock.
- On May 28, 2024, 723 restricted stock units vested and were converted into common stock.
- Also on May 28, 2024, 254 shares were disposed of to cover tax obligations at a price of $35.88 per share.
- Chan was also granted 1,458 restricted stock units on 06/28/2024 which will fully vest on June 28, 2027.
- Following these transactions, Chan directly owns 2,446 shares of common stock and 1,458 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their transactions in company stock.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in ownership by an insider.
Key Dates
| Date | Description |
|---|---|
| 01/26/2023 | Date of Form 3 filing reporting the award of 723 shares of restricted stock units. |
| 05/28/2024 | Date of vesting of 723 restricted stock units and disposition of 254 shares for tax obligations. |
| 06/28/2024 | Date of grant of 1,458 restricted stock units. |
| 06/28/2027 | Scheduled full vesting date for the 1,458 restricted stock units. |
| 07/02/2024 | Date of Form 4 filing. |
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