Form 4: Dime Community Bancshares Officer Disposes of Shares to Cover Tax Obligations
SEC Form 4
Michael Fegan, Chief Technology & Ops Officer of Dime Community Bancshares, Inc., disposed of 282 shares of common stock to cover tax obligations related to vested restricted stock.
Summary
- On February 26, 2025, Michael Fegan, the Chief Technology & Ops Officer of Dime Community Bancshares, Inc., disposed of 282 shares of common stock.
- The transaction was executed to satisfy tax obligations related to the vesting of 683 shares of restricted stock on the same date.
- The shares were disposed of at a price of $30.59 per share.
- Following the transaction, Fegan directly owns 18,734 shares of Dime Community Bancshares, Inc.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing reflects a routine transaction for tax purposes and doesn't indicate any strategic shift or concern.
Industry Context
This is a routine Form 4 filing, indicating an insider transaction related to tax obligations. It's common for executives to sell shares to cover taxes when restricted stock vests.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| June 1, 2023 | Date of the Limited Power of Attorney for Section 16 Reporting Obligations. |
| February 26, 2025 | Date of the transaction: disposal of 282 shares of common stock and vesting of 683 shares of restricted stock. |
| February 28, 2025 | Date of signature on the Form 4 filing. |
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