Form 4: Dime Community Bancshares EVP Patricia Schaubeck Reports Stock Transactions
SEC Form 4 Filing
Patricia Schaubeck, EVP and General Counsel of Dime Community Bancshares, reports the acquisition and disposal of common stock to cover tax obligations.
Summary
- On March 31, 2024, Patricia M. Schaubeck, EVP and General Counsel of Dime Community Bancshares, reported transactions involving the company's stock.
- Schaubeck acquired 3,320 shares of common stock at $0.00.
- She disposed of 182 shares at $19.26 to cover tax obligations on 506 shares of restricted stock that vested.
- An additional 303 shares were disposed of at $19.26 to cover tax obligations on 842 shares of restricted stock that vested.
- Following these transactions, Schaubeck directly owns 28,915 shares of common stock and 1,000 shares of Preferred Stock, Series A.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and stock transactions, indicating a neutral to slightly positive sentiment as it reflects ongoing executive compensation.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.
Comparison to Industry Standards
- Executive stock transactions are a standard part of executive compensation in publicly traded companies, including financial institutions like Dime Community Bancshares.
- Similar filings are regularly made by executives at comparable companies such as New York Community Bancorp (NYCB) and Valley National Bancorp (VLY).
- The vesting of restricted stock and subsequent sale to cover tax obligations is a common practice.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders as they relate to executive compensation and tax obligations.
- Employees may be indirectly affected through the company's overall financial performance and executive compensation policies.
Key Dates
| Date | Description |
|---|---|
| 2022-12-14 | Date of execution of the Limited Power of Attorney. |
| 2024-03-31 | Date of the reported stock transactions. |
| 2024-04-02 | Date of signature for the Form 4 filing. |
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