Form 4: Magyar Bancorp EVP and CFO Jon Ansari Reports Acquisition of 500 Shares

Jon Ansari, EVP and CFO of Magyar Bancorp, reports acquiring 500 shares of common stock at $10.66 per share on May 30, 2024.

Summary

• On May 30, 2024, Jon Ansari, the EVP and CFO of Magyar Bancorp, acquired 500 shares of common stock at a price of $10.66 per share.
• Following this transaction, Ansari directly owns 74,705 shares of common stock.
• Ansari also has indirect ownership through a spouse's IRA (2,102 shares), an ESOP (14,485 shares), and a 401(k) (24,716 shares).
• Additionally, Ansari holds options for 40,000 shares of common stock, vesting at a rate of 20% per year starting September 22, 2023.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reports a routine transaction. The purchase of shares by an executive is generally viewed as a positive sign, but it's a small transaction.

Positives

• The EVP and CFO's purchase of shares may signal confidence in the company's future performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates the EVP and CFO's recent stock purchase, which is a common occurrence.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholder sentiment.

Key Dates