Form 4: Dime Community Bancshares Officer Michael Fegan Reports Tax Obligation Share Withholding
SEC Form 4 Filing
Michael Fegan, Chief Technology & Ops Officer of Dime Community Bancshares, reports the withholding of 1,139 common stock shares to cover tax obligations related to vested restricted stock.
Summary
- On February 3, 2025, Michael Fegan, Chief Technology & Ops Officer of Dime Community Bancshares, had 1,139 shares of common stock withheld to cover tax obligations.
- This withholding was related to the vesting of 2,756 shares of restricted stock on the same date.
- Following the transaction, Fegan directly owns 19,016 shares of Dime Community Bancshares common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine transaction. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Industry Context
This is a routine Form 4 filing, common for corporate insiders who have transactions in their company's stock. It reflects standard compensation practices involving stock and the associated tax implications.
Comparison to Industry Standards
- Form 4 filings are standard practice across all publicly traded companies and are required by the SEC.
- The vesting of restricted stock and subsequent withholding for taxes is a common form of executive compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard tax-related withholding.
Key Dates
| Date | Description |
|---|---|
| 2023-06-01 | Date of Limited Power of Attorney for Section 16 Reporting Obligations |
| 2025-02-03 | Date of transaction: withholding of shares for tax obligations and vesting of restricted stock. |
| 2025-02-12 | Date of signature on the Form 4 filing. |
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