Form 4: Customers Bancorp Chief Risk Officer Reports Stock Transaction
SEC Form 4
Joan Patricia Cheney, Chief Risk Officer of Customers Bancorp, Inc., reports the disposition of 643 shares of common stock to cover tax obligations.
Summary
- On April 4, 2024, Joan Patricia Cheney, the Chief Risk Officer of Customers Bancorp, Inc. (CUBI), reported a transaction involving the company's common stock.
- Ms. Cheney disposed of 643 shares to cover taxes upon the vesting of a previously issued restricted stock award.
- The transaction was executed at a price of $50 per share.
- Following the transaction, Ms. Cheney beneficially owns 10,839 shares of Customers Bancorp, Inc., including 8,848 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 04/04/2024 | Date of stock transaction (disposal of shares for tax withholding). |
| 04/05/2024 | Date of signature on the Form 4 filing. |
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