Form 4: NYCB Executive Reginald E. Davis Reports Stock Disposals to Cover Tax Obligations
SEC Form 4 Filing
Reginald E. Davis, a Senior EVP at New York Community Bancorp, reported disposing of shares to cover tax obligations related to vesting restricted stock units.
Summary
- Reginald E. Davis, a Senior EVP at New York Community Bancorp (NYCB), filed a Form 4 detailing changes in beneficial ownership.
- On May 24, 2024, Davis disposed of 4,854 shares of common stock to cover tax obligations, with the price listed as $0.
- On May 25, 2024, Davis disposed of 6,372 shares of common stock for the same reason, also at a price of $0.
- Following these transactions, Davis directly owns 88,311 shares of NYCB common stock.
- Davis also indirectly owns 165,397 shares granted under a stock award from December 1, 2022, which will vest in four equal annual installments starting December 1, 2024.
- Additionally, Davis indirectly owns 18,770 shares granted under a stock award from March 24, 2023, vesting in two equal annual installments starting March 24, 2025.
Sentiment
Score: 5
Explanation: This is a neutral event. It reflects routine tax-related stock disposals and doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The disposal of shares by an executive could be perceived negatively by some shareholders, although it is a common practice for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 12/01/2022 | Grant date of 165,397 shares under Stock Award, vesting in four approximately equal annual installments commencing on December 1, 2024. |
| 03/24/2023 | Grant date of 18,770 shares under Stock Award (032423), vesting in two equal annual installments commencing on March 24, 2025. |
| 05/24/2024 | Transaction date: Disposal of 4,854 shares to cover tax obligations. |
| 05/25/2024 | Transaction date: Disposal of 6,372 shares to cover tax obligations. |
| 05/28/2024 | Date of signature on the Form 4 filing. |
| 12/01/2024 | First vesting date for 165,397 shares granted on December 1, 2022. |
| 03/24/2025 | First vesting date for 18,770 shares granted on March 24, 2023. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.