Form 4: Customers Bancorp Executive Jessie John Deano Velasquez Reports Stock Transaction
SEC Form 4
Chief Accounting Officer Jessie John Deano Velasquez reports disposition of Customers Bancorp stock to cover tax obligations.
Summary
- On February 23, 2024, Jessie John Deano Velasquez, Chief Accounting Officer of Customers Bancorp, Inc. (CUBI), reported a transaction involving the disposition of 62 shares of common stock.
- The shares were withheld for taxes upon the vesting of a previously issued restricted stock award.
- The transaction price was $52.66 per share.
- Following the transaction, Velasquez directly owns 3,582 shares of Customers Bancorp, Inc., including 3,463 Restricted Stock Units.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a routine transaction related to tax obligations.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock transactions. It's a standard practice for executives to have shares withheld for taxes upon vesting of restricted stock awards.
Stakeholder Impact
- The transaction has minimal impact on stakeholders as it's a small number of shares related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/23/2024 | Date of stock transaction (disposition of shares). |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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