Form 4: Dime Community Bancshares Executive Avinash Reddy Reports Share Withholding for Tax Obligations
SEC Form 4
Avinash Reddy, SEVP CHIEF FINANCIAL OFFICER of Dime Community Bancshares, reports the withholding of shares to cover tax obligations related to vested restricted stock.
Summary
- On February 26, 2025, Avinash Reddy, the SEVP CHIEF FINANCIAL OFFICER of Dime Community Bancshares, had 367 shares of common stock withheld to cover tax obligations.
- This transaction occurred because 911 shares of restricted stock vested on the same date.
- Following the transaction, Reddy directly owns 43,598 shares of common stock and 5,730 shares of Preferred Stock, Series A.
Sentiment
Score: 5
Explanation: This is a neutral event related to tax obligations, with no inherent positive or negative implications for the company's performance.
Industry Context
This is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations on vested stock.
Key Dates
| Date | Description |
|---|---|
| 2022-12-20 | Date of execution of the Limited Power of Attorney. |
| 2025-02-26 | Date of the transaction where shares were withheld to cover tax obligations. |
| 2025-02-26 | Date that 911 shares of restricted stock vested. |
| 2025-02-28 | Date of signature for the Form 4 filing. |
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