FLG.NYSEFlagstar Financial, INC

Form 4: NYCB Executive Patrick Quinn Reports Share Surrender for Tax Obligations

Sentiment:

SEC Form 4

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Patrick Quinn, SEVP, GC & Corp. Secretary of New York Community Bancorp, Inc., surrendered shares to cover tax obligations related to vested stock awards.

Summary

  • On March 24, 2024, Patrick Quinn, SEVP, GC & Corp. Secretary of New York Community Bancorp, Inc. (NYCB), surrendered 3,994 common stock shares to cover tax obligations.
  • The shares were surrendered to the issuer at a price of $0.
  • Following the transaction, Quinn directly owns 63,649 shares of NYCB common stock.
  • Quinn also indirectly owns shares through a 401(k) (36,840 shares) and various stock awards that are vesting over time.
  • These stock awards include 1,500 shares from Stock Award IV, 6,000 shares from Stock Award V, 9,910 shares from Stock Award VII, and 15,642 shares from Stock Award (032423).

Sentiment

Score: 5

Explanation: This is a neutral event; a routine filing related to tax obligations on vested shares.

Industry Context

Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.

Key Dates

DateDescription
01/14/2020Date of Stock Award IV grant.
01/14/2021Date of Stock Award V grant.
04/13/2022Date of Stock Award VII grant.
03/24/2023Date of Stock Award (032423) grant.
03/24/2024Date of transaction: surrender of shares for tax obligations.
03/26/2024Date of signature on the Form 4 filing.
01/14/2025Commencement of vesting for Stock Award IV and V.
03/24/2025Commencement of vesting for Stock Award (032423).
04/13/2024Commencement of vesting for Stock Award VII.

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