Form 4: Finward Bancorp CEO Surrenders Shares for Tax Liability
SEC Form 4 Filing
Finward Bancorp CEO Benjamin J. Bochnowski surrendered 991 common shares on February 11, 2025, to cover tax liabilities upon vesting.
Summary
- On February 11, 2025, Benjamin J. Bochnowski, President and CEO of Finward Bancorp, surrendered 991 common shares.
- The shares were surrendered to cover tax liabilities associated with the vesting of shares.
- The transaction occurred at a price of $26.38 per share.
- Following the transaction, Bochnowski directly owns 27,890 common shares and indirectly owns 1,835.7197 shares through a profit-sharing plan.
Sentiment
Score: 7
Explanation: The document describes a routine transaction (share surrender for tax purposes) which is neither particularly positive nor negative. It's a normal part of executive compensation.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to surrender shares to cover taxes upon vesting of stock awards.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax liabilities.
Key Dates
| Date | Description |
|---|---|
| 02/11/2025 | Date of share surrender transaction |
| 02/14/2025 | Date of earliest transaction |
| 02/28/2025 | Signature date of the reporting person |
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