Form 4: First Seacoast Bancorp Executive Acquires Shares and Options

Timothy F. Dargan, SVP and Senior CLO of First Seacoast Bancorp, Inc., acquired 10,000 shares of common stock and 20,000 stock options on December 2, 2024.

Summary

• Timothy F. Dargan, a Senior Vice President and Senior CLO at First Seacoast Bancorp, Inc., reported changes in his beneficial ownership of the company's securities.
• On December 2, 2024, Mr. Dargan acquired 10,000 shares of common stock at $0 price, and 20,000 stock options with an exercise price of $9.29.
• The shares of restricted stock and the stock options vest at a rate of 33 1/3% per year commencing on December 2, 2025.
• Mr. Dargan also holds 5,179 shares of common stock indirectly through an IRA and 2,146 shares indirectly through an ESOP.
• Additionally, Mr. Dargan holds 20,000 stock options with an exercise price of $8.06, which vest at a rate of 33 1/3% per year commencing on May 25, 2024.

Sentiment

Score: 7

Explanation: The document reflects a routine insider transaction, which is generally neutral to positive. The acquisition of shares and options by an executive can be seen as a sign of confidence.

Positives

• The acquisition of shares and options by a senior executive could be seen as a positive sign of confidence in the company's future.
• The vesting schedule of the shares and options aligns the executive's interests with the long-term performance of the company.

Industry Context

This filing is a routine disclosure of insider transactions, which is common in the financial industry. It provides transparency into the ownership changes of company executives.

Comparison to Industry Standards

• Stock option grants and restricted stock awards are common forms of executive compensation in the banking industry.
• Vesting schedules, such as the 33 1/3% per year, are standard practice to incentivize long-term performance.
• Similar filings are regularly made by executives at comparable financial institutions such as Eastern Bankshares, Inc. and Brookline Bancorp, Inc.

Stakeholder Impact

• The transaction may have a minor positive impact on shareholder sentiment due to the executive's increased stake in the company.

Key Dates

Keywords

insider trading, stock options, share acquisition, beneficial ownership, executive compensation, First Seacoast Bancorp, FSEA