Form 4: Marathon Bancorp SVP and CFO Joy Selting-Buchberger Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Joy Selting-Buchberger, SVP and CFO of Marathon Bancorp, reports transactions involving common stock and stock options, including tax withholding and vesting of restricted stock.
Summary
- On May 16, 2024, Joy Selting-Buchberger, SVP and CFO of Marathon Bancorp, had 18 shares of common stock disposed of at a price of $8.85 per share for tax withholding, resulting in a holding of 4,566 shares.
- On June 28, 2024, she had 268 shares of common stock disposed of at a price of $8.99 per share for tax withholding, resulting in a holding of 4,298 shares.
- She also indirectly owns 12,229 shares of common stock through a 401(k) and 643 shares through an ESOP.
- Selting-Buchberger holds stock options for 3,500 shares exercisable at $8.90, vesting at a rate of 20% per year commencing on May 16, 2024.
- She also holds stock options for 4,370 shares exercisable at $11.16, vesting at a rate of 20% per year commencing on June 28, 2023.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, reporting routine transactions. It doesn't inherently convey positive or negative sentiment about the company's performance or prospects.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's securities. It allows investors to monitor the actions of key executives and assess their confidence in the company's prospects.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders.
- The vesting schedules for restricted stock and stock options are typical compensation practices in the banking industry, often used to incentivize and retain key personnel.
- Comparable companies like Associated Banc-Corp (ASB) and First Midwest Bancorp (FMBI) also have similar insider transaction reporting requirements and equity compensation plans.
Stakeholder Impact
- Shareholders can use this information to understand insider sentiment and potential alignment of interests.
- Employees holding company stock or options are directly affected by the vesting schedules and stock prices.
- The filing provides transparency to the market regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 06/28/2023 | Commencement date for vesting of stock options at a rate of 20% per year (4,370 shares, $11.16 exercise price). |
| 05/16/2024 | Date of transaction involving the disposal of 18 common stock shares at $8.85 for tax withholding and commencement date for vesting of restricted stock and stock options at a rate of 20% per year (3,500 shares, $8.90 exercise price). |
| 06/28/2024 | Date of transaction involving the disposal of 268 common stock shares at $8.99 for tax withholding. |
| 07/02/2024 | Date of signature for the report. |
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