Form 4: HomeStreet EVP Paulette Lemon Reports Stock Transactions
SEC Form 4
Paulette Lemon, EVP of Retail Banking at HomeStreet, reports the vesting and subsequent sale of restricted stock units to cover tax obligations.
Summary
- Paulette Lemon, an Executive Vice President at HomeStreet, Inc., reported transactions involving HomeStreet common stock on January 1, 2025.
- These transactions involved the vesting of restricted stock units (RSUs) and the subsequent withholding of shares to cover tax liabilities.
- Specifically, 335, 651, and 2,129 RSUs vested, converting into common stock.
- A portion of the newly vested shares were then used to cover withholding tax liabilities at a price of $11.42 per share.
- After these transactions, Lemon directly owns 19,074.2 shares of HomeStreet common stock.
Sentiment
Score: 5
Explanation: This is a neutral regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedules of the RSUs.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for corporate insiders and are required by the SEC to ensure transparency.
- Similar filings are made by executives at comparable financial institutions like Bank of America, Wells Fargo, and U.S. Bancorp when they engage in transactions involving their company's stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the vesting of previously granted equity compensation.
- Employees holding RSUs may be interested in the vesting schedules and tax implications.
Key Dates
| Date | Description |
|---|---|
| 01/01/2022 | Reporting person was granted 1,005 RSUs, which vest incrementally in equal amounts on January 1, 2023, January 1, 2024, and January 1, 2025. |
| 01/01/2023 | Reporting person was granted 1,954 RSUs, of which 651 shares vest on each of January 1, 2024 and January 1, 2025, and 652 shares vest on January 1, 2026. |
| 01/01/2024 | Reporting person was granted 6,389 RSUs, of which 2,129 shares vest on January 1, 2025 and 2,130 shares vest each on January 1, 2026 and January 1, 2027. |
| 01/01/2025 | Date of earliest transaction: Vesting of RSUs and withholding of shares for tax liabilities. |
| 01/03/2025 | Date of signature on the Form 4 filing. |
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