Form 4: Lake Shore Bancorp Director Sanvidge Reports Stock Transactions
SEC Form 4 Filing
Kevin M. Sanvidge, a director at Lake Shore Bancorp, reported gifting shares and updating beneficial ownership.
Summary
- On August 5, 2024, Kevin M. Sanvidge, a director and Chairman of the Board at Lake Shore Bancorp, reported a transaction involving the company's common stock.
- Sanvidge gifted 400 shares of common stock, resulting in a decrease in his directly held shares to 18,136.
- He also reported acquiring 400 shares as custodian for grandchildren, increasing his indirectly held shares to 1,305.
- Sanvidge also holds options to buy 1,897 shares at $10.69, vesting starting April 23, 2025, and options to buy 10,749 shares at $14.38, which are fully vested.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting stock transactions, which carries a neutral sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, as required by the SEC. It provides transparency to investors regarding the actions of company leadership.
Stakeholder Impact
- The gifting of shares may have a minor impact on shareholders due to the change in ownership structure.
- The transactions provide transparency to stakeholders regarding insider activity.
Key Dates
| Date | Description |
|---|---|
| 08/05/2024 | Date of stock gifting and acquisition as custodian |
| 04/23/2025 | Commencement of vesting for stock options priced at $10.69 |
| 10/21/2026 | Expiration date for stock options priced at $14.38 |
| 04/22/2034 | Expiration date for stock options priced at $10.69 |
| 08/07/2024 | Date of signature on the Form 4 filing |
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