Form 4: Dime Community Bancshares Executive Avinash Reddy Reports Tax Withholding on Vested Restricted Stock
SEC Form 4 Filing
Avinash Reddy, SEVP CHIEF FINANCIAL OFFICER of Dime Community Bancshares, reports the withholding of shares to cover tax obligations following the vesting of restricted stock.
Summary
- On February 3, 2025, Avinash Reddy, SEVP CHIEF FINANCIAL OFFICER of Dime Community Bancshares, had 4,592 shares of restricted stock vest.
- To cover tax obligations related to this vesting, 1,987 common stock shares were withheld at a price of $31.23 per share.
- Following this transaction, Reddy directly owns 43,965 shares of common stock and 5,730 shares of Preferred Stock, Series A.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock vesting and tax withholding, indicating a neutral sentiment.
Industry Context
This is a routine Form 4 filing, which is common for corporate executives who receive stock-based compensation. It reflects standard practice for handling tax obligations related to vested equity.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the withholding of shares for tax purposes, which is a standard procedure.
Key Dates
| Date | Description |
|---|---|
| December 20, 2022 | Date of the Limited Power of Attorney for Section 16 Reporting Obligations. |
| February 3, 2025 | Date of the transaction involving the vesting of restricted stock and subsequent tax withholding. |
| February 12, 2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, DCOM, Dime Community Bancshares, Avinash Reddy, Section 16, insider trading, stock vesting, tax withholding, SEVP, Chief Financial Officer
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