Form 4: Enterprise Bancorp Executive Exercises Stock Options and Disposes of Shares
SEC Filing
Steven R. Larochelle, EVP of Enterprise Bancorp, exercised stock options and disposed of shares on March 5, 2024.
Summary
- On March 5, 2024, Steven R. Larochelle, an EVP at Enterprise Bancorp, exercised options to acquire 1,203 shares of common stock at a price of $20.29 per share.
- Simultaneously, Larochelle disposed of 1,001 shares of common stock at a price of $27.32 per share to cover tax obligations related to the option exercise.
- Following these transactions, Larochelle directly owns 38,018 shares of Enterprise Bancorp common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reflects routine transactions related to stock options and tax obligations.
Industry Context
Form 4 filings are standard disclosures required by the SEC when corporate insiders, like officers and directors, trade their company's stock. These filings provide transparency into insider transactions and can be monitored by investors for insights into management's perspective on the company's value.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 03/18/2018 | Original date of option grant. |
| 03/17/2024 | Expiration date of option. |
| 03/05/2024 | Date of option exercise and share disposal. |
| 03/07/2024 | Date of Form 4 signature. |
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