Form 4: Citizens Community Bancorp Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
A Citizens Community Bancorp executive sold 283 shares of common stock to cover tax obligations related to vesting restricted stock.
Summary
- James S. Broucek, an executive at Citizens Community Bancorp, sold 283 shares of common stock on January 27, 2025.
- The sale was executed at a price of $15.91 per share.
- This transaction was to cover tax obligations arising from the vesting of previously awarded restricted stock.
- Following the transaction, Mr. Broucek directly owns 21,334 shares and indirectly owns 43,136 shares through an IRA.
- Mr. Broucek also holds options to purchase 8,000 shares of common stock, which vest over time.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.
Industry Context
This is a routine transaction for executives who receive equity compensation. It is common for executives to sell shares to cover tax obligations when restricted stock vests.
Comparison to Industry Standards
- Executive stock sales to cover tax obligations are a common practice across the financial industry.
- Many companies use equity incentive plans to align executive interests with shareholder value, and these plans often result in similar transactions.
- The number of shares sold and the price are specific to this executive and company, but the underlying reason for the sale is typical.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 10/31/2018 | First vesting date for 20% of the common stock options. |
| 10/31/2019 | Second vesting date for 20% of the common stock options. |
| 10/31/2020 | Third vesting date for 20% of the common stock options. |
| 10/31/2021 | Fourth vesting date for 20% of the common stock options. |
| 10/31/2022 | Final vesting date for 20% of the common stock options. |
| 01/27/2025 | Date of the stock sale transaction. |
| 01/29/2025 | Date the Form 4 was signed. |
Keywords
Citizens Community Bancorp, stock sale, executive transaction, Form 4, insider trading, equity compensation, restricted stock, tax obligations
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