Form 4: NYCB Executive John Thomas Adams Reports Stock Transactions
SEC Form 4 Filing
John Thomas Adams, SEVP at New York Community Bancorp, reports the disposition of shares to cover tax obligations and details of stock awards.
Summary
- On February 26, 2024, John Thomas Adams, SEVP at New York Community Bancorp (NYCB), reported a transaction involving common stock.
- Adams surrendered 1,883 shares to cover tax obligations related to the vesting of stock awards.
- Following the transaction, Adams directly owns 107,666 shares of NYCB common stock.
- Adams also indirectly owns 40,129 shares through a 401(k), 5,000 shares through Stock Award VI, 9,910 shares through Stock Award VIII, and 23,464 shares through Stock Award (032423).
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing stock transactions. It doesn't convey any particularly positive or negative sentiment.
Future Outlook
The document details the vesting schedules for several stock awards, indicating future increases in the executive's holdings.
Industry Context
Form 4 filings are routine disclosures for corporate insiders and provide transparency into their transactions in company stock, which is a standard practice in the financial industry.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies like New York Community Bancorp, similar to filings made by executives at comparable institutions such as Bank of America or JPMorgan Chase.
- The vesting schedules and stock award plans are also common compensation practices, aligning with industry norms for executive compensation.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 01/14/2020 | Date of Stock Award VI grant. |
| 04/13/2022 | Date of Stock Award VIII grant. |
| 03/24/2023 | Date of Stock Award (032423) grant. |
| 02/26/2024 | Date of transaction: surrender of shares for tax obligations. |
| 02/28/2024 | Date of Form 4 filing. |
| 03/24/2024 | Commencement of vesting for Stock Award (032423). |
| 04/13/2024 | Commencement of vesting for Stock Award VIII. |
| 01/14/2025 | Commencement of vesting for Stock Award VI. |
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