Form 4: LINKBANCORP CEO Sells Shares to Cover Tax Obligations on Vesting Restricted Stock
Insider Transaction Report
LINKBANCORP's CEO and Vice Chairman, Andrew S. Samuel, reported the sale of 1,497 shares of common stock to satisfy tax withholding obligations related to the vesting of restricted stock.
Summary
- Andrew S. Samuel, CEO and Vice Chairman of LINKBANCORP, Inc. (LNKB), reported a transaction on May 23, 2025, involving the disposition of common stock.
- He disposed of 1,497 shares of common stock at a price of $6.88 per share.
- This disposition was explicitly made to satisfy tax obligations upon the vesting of 16,000 shares of restricted stock.
- Following this transaction, Mr. Samuel directly beneficially owns 34,668 shares of common stock.
- His direct holdings include 16,000 shares of restricted stock which vest at a rate of 20% per year commencing on August 31, 2024, and 16,000 shares of restricted stock units which vest at a rate of 33.33% per year commencing on May 23, 2025.
- Mr. Samuel also indirectly owns 6,060 shares through his daughter's IRA, for which he disclaims beneficial ownership.
- His direct derivative holdings include 40,000 stock options with an exercise price of $10, vesting 20% annually from October 19, 2019, and 907,240 warrants with an exercise price of $10.
- Additionally, his daughter holds various stock options indirectly, totaling 8,500 shares, for which Mr. Samuel disclaims beneficial ownership.
Sentiment
Score: 5
Explanation: The transaction is a routine tax-related sale upon the vesting of restricted stock, which is a neutral event and does not reflect positively or negatively on the company's performance or future outlook. It is a standard part of executive compensation.
Positives
- The vesting of restricted stock and restricted stock units indicates that equity compensation is being realized by the CEO, aligning management's interests with shareholders over time through long-term incentives.
Negatives
- The reported transaction is a routine tax-related sale and does not indicate any negative sentiment or operational issues for the company.
Future Outlook
NA
Management Comments
- Mr. Samuel disclaims beneficial ownership of shares held by his daughter's IRA.
- Mr. Samuel disclaims beneficial ownership of stock options held by his daughter.
Industry Context
NA
Related Party Transactions
- The reporting person's daughter holds 6,060 shares in an IRA and 8,500 stock options, for which the reporting person disclaims beneficial ownership. This indicates a related party relationship, though the transactions are not detailed as typical related party dealings.
Stakeholder Impact
- The transaction is a routine tax-related sale by an executive and is unlikely to have a significant direct impact on shareholders, employees, customers, suppliers, or creditors beyond the normal course of executive compensation disclosures.
Key Dates
| Date | Description |
|---|---|
| 01/03/2019 | Date exercisable and expiration date for 907,240 direct warrants. |
| 06/14/2019 | Commencement of 20% annual vesting for 7,500 indirect stock options held by daughter. |
| 10/19/2019 | Commencement of 20% annual vesting for 40,000 direct stock options. |
| 08/31/2024 | Commencement of 20% annual vesting for 16,000 shares of restricted stock and 500 indirect stock options held by daughter. |
| 05/23/2025 | Date of common stock disposition; Commencement of 33.33% annual vesting for 16,000 restricted stock units and 500 indirect stock options held by daughter. |
| 05/29/2025 | Date of SEC Form 4 filing. |
| 10/19/2029 | Expiration date for 40,000 direct stock options. |
| 01/03/2029 | Expiration date for 907,240 direct warrants. |
| 06/14/2029 | Expiration date for 7,500 indirect stock options held by daughter. |
| 08/31/2033 | Expiration date for 500 indirect stock options held by daughter. |
| 05/23/2034 | Expiration date for 500 indirect stock options held by daughter. |
Keywords
LINKBANCORP, LNKB, SEC Form 4, Insider Transaction, Beneficial Ownership, Andrew S. Samuel, CEO, Vice Chairman, Restricted Stock, Stock Options, Warrants, Equity Compensation, Tax Withholding
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