FLG.NYSEFlagstar Financial, INC

Form 4: NYCB Executive John J. Pinto Reports Share Surrender for Tax Obligations

Sentiment:

SEC Form 4

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John J. Pinto, Sr. EVP & CFO of New York Community Bancorp, surrendered 2,439 shares to cover tax obligations related to vested stock awards.

Summary

  • On February 26, 2024, John J. Pinto, Sr. EVP & CFO of New York Community Bancorp (NYCB), reported a transaction involving the surrender of 2,439 common stock shares to cover tax obligations.
  • These shares were related to previously vested stock awards.
  • Following the transaction, Pinto directly owns 490,210 shares of NYCB common stock.
  • Pinto also indirectly owns shares through a 401(k) (90,228 shares) and various stock awards (38,020 shares from Stock Award XV, 17,344 shares from Stock Award XVII and 41,061 shares from Stock Award (032423)).
  • Remaining shares from Stock Award XV will vest in two approximately equal annual installments commencing on January 12, 2025.
  • Remaining shares from Stock Award XVII will vest in two equal annual installments commencing on April 13, 2024.
  • Shares from Stock Award (032423) will vest in three equal annual installments commencing on March 24, 2024.

Sentiment

Score: 5

Explanation: This is a neutral report on a routine transaction. It doesn't indicate positive or negative sentiment.

Industry Context

This is a routine Form 4 filing related to insider transactions. It is common for executives to surrender shares to cover tax obligations when stock awards vest.

Key Dates

DateDescription
January 12, 2021Date of Stock Award XV grant.
April 13, 2022Date of Stock Award XVII grant.
March 24, 2023Date of Stock Award (032423) grant.
February 26, 2024Date of share surrender transaction.
February 28, 2024Date of Jan M. Klym's signature by Power of Attorney.
March 24, 2024Commencement of vesting for Stock Award (032423).
April 13, 2024Commencement of vesting for Stock Award XVII.
January 12, 2025Commencement of vesting for Stock Award XV.

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