Form 4: Customers Bancorp Executive Lyle Cunningham Reports Stock Transaction
SEC Form 4 Filing
Lyle Cunningham, Chief Lending Officer of Customers Bancorp, reports the withholding of shares for taxes upon vesting of restricted stock and a purchase of shares through the employee stock purchase plan.
Summary
- On March 22, 2024, Lyle Cunningham, Chief Lending Officer of Customers Bancorp, Inc. (CUBI), reported a transaction involving the company's common stock.
- 342 shares were withheld for taxes upon the vesting of a previously issued restricted stock award at a price of $51.96.
- Following the transaction, Cunningham beneficially owns 39,609 shares of common stock.
- This total includes 27,329 Restricted Stock Units.
- Cunningham also purchased 19 shares pursuant to Customers Bancorp, Inc's Employee Stock Purchase Plan.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard reporting of stock transactions. No significant positive or negative implications can be derived.
Positives
- The reporting person increased their holdings through the Employee Stock Purchase Plan.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| 03/22/2024 | Date of stock transaction (shares withheld for taxes and purchase via employee stock purchase plan). |
| 03/26/2024 | Date of signature for the report. |
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