Form 4: First US Bancshares Officer Mabowitz Sells Shares Due to 401(k) Rebalancing
SEC Form 4 Filing
Eric H. Mabowitz, SEVP and Chief Risk Officer of First US Bancshares, sold shares of common stock due to an inadvertent rebalancing of his 401(k) account.
Summary
- Eric H. Mabowitz, the SEVP and Chief Risk Officer of First US Bancshares, sold shares of the company's common stock between June 21, 2024, and June 26, 2024.
- The sales were a result of a rebalancing of his 401(k) plan account after he changed future allocations on May 11, 2024.
- On June 21, 2024, 5,131 shares were sold at $9.85 per share.
- On June 24, 2024, 1,000 shares were sold at $9.49 per share.
- On June 25, 2024, 5,000 shares were sold at $9.14 per share.
- On June 26, 2024, 4,242 shares were sold at $8.90 per share.
- Following these transactions, Mabowitz directly owns 11,952 shares and indirectly owns 4,242 shares through his 401(k) as of June 27, 2024.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing stock sales due to a 401(k) rebalancing, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider trading activity. It is important to note that the sales were due to a 401(k) rebalancing and may not reflect the officer's view of the company's prospects.
Stakeholder Impact
- The stock sales could have a minor negative impact on shareholder sentiment, although the reason for the sales (401(k) rebalancing) is disclosed.
Key Dates
| Date | Description |
|---|---|
| 05/11/2024 | Reporting person changed future allocations of his 401(K) Plan. |
| 06/20/2024 | Rebalancing of 401(k) account occurred. |
| 06/21/2024 | First sale of common stock: 5,131 shares at $9.85. |
| 06/24/2024 | Second sale of common stock: 1,000 shares at $9.49. |
| 06/25/2024 | Third sale of common stock: 5,000 shares at $9.14. |
| 06/26/2024 | Fourth sale of common stock: 4,242 shares at $8.90. |
| 06/27/2024 | Mabowitz owns 11,952 shares directly and 4,242 shares indirectly through 401(k). |
| 07/10/2024 | Date of signature on the Form 4 filing. |
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