Form 4: Dime Community Bancshares Director Receives Stock Award
Director Stock Award
Dime Community Bancshares director Albert E. McCoy Jr. was granted 1,865 shares of common stock as a restricted award, vesting in one year.
Summary
- Director Albert E. McCoy Jr. received a restricted stock award of 1,865 shares of Dime Community Bancshares, Inc. common stock.
- The award was granted on January 1, 2026, with a price of $0.00 per share.
- These shares will cliff vest on the one-year anniversary of the grant date.
- Following this transaction, Mr. McCoy Jr. beneficially owns 148,552 shares of common stock.
- The filing was signed by Megan Hickey as attorney-in-fact on January 5, 2026, under a Limited Power of Attorney dated December 15, 2022.
Sentiment
Score: 6
Explanation: The filing reports a routine restricted stock award to a director, which is a neutral to slightly positive event as it aligns director interests with shareholders. No significant positive or negative financial news is present.
Positives
- Grant of restricted stock aligns the director's interests with long-term shareholder value.
- The award is a form of non-cash compensation, preserving company cash.
Negatives
- No direct negatives identified from this routine compensation filing.
Risks
- No specific risks related to the company's operations or financial health are mentioned in this Form 4.
Future Outlook
The restricted stock award is set to cliff vest on its one-year anniversary, indicating a future milestone for the director's equity holdings.
Industry Context
The grant of restricted stock to a director is a common practice in the banking and financial services industry, used to incentivize long-term commitment and align executive interests with shareholder returns. This is a standard compensation mechanism.
Comparison to Industry Standards
- Restricted stock awards are a widely accepted form of executive and director compensation across publicly traded companies, including financial institutions like JPMorgan Chase & Co. or Bank of America, to foster long-term alignment.
- The $0.00 price for the acquisition of shares is typical for a stock grant or award, reflecting compensation rather than a purchase.
- One-year cliff vesting is a common vesting schedule for director equity awards, though longer periods or graded vesting are also observed depending on company policy and industry norms.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Director Albert E. McCoy Jr. granted a Limited Power of Attorney to designated individuals (Megan Hickey, Marc Levy, Jeffrey Cass, and Edward A. Quint) for handling his Section 16 reporting obligations with the SEC. | 2022-12-15 | Streamlines compliance with SEC reporting requirements for the director, ensuring timely and accurate filings. |
Related Party Transactions
- The restricted stock award to Director Albert E. McCoy Jr. is a related party transaction, representing compensation from the company to a member of its board.
Stakeholder Impact
- Shareholders: The award aligns the director's long-term interests with shareholder value.
- Management: The Power of Attorney streamlines compliance for the director and the company's legal/compliance team.
Next Steps
- The restricted stock award will cliff vest on January 1, 2027.
Key Dates
| Date | Description |
|---|---|
| 2022-12-15 | Date of Limited Power of Attorney granted by Albert E. McCoy Jr. |
| 2026-01-01 | Transaction date for the restricted stock award. |
| 2026-01-05 | Date the Form 4 was signed by the attorney-in-fact. |
| 2027-01-01 | Estimated vesting date for the restricted stock award (one year anniversary of grant date). |
Keywords
Dime Community Bancshares, DCOM, Albert E. McCoy Jr., Restricted Stock Award, Director Compensation, SEC Form 4, Beneficial Ownership, Equity Grant, Corporate Governance
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