Form 4: Metropolitan Bank Holding Corp. Executive Reports Changes in Beneficial Ownership

G. David Bonnar, SVP, Controller, CAO & PAO of Metropolitan Bank Holding Corp., reports acquisition and disposal of common stock and grants a power of attorney.

Summary

• On March 1, 2024, G. David Bonnar, SVP, Controller, CAO & PAO of Metropolitan Bank Holding Corp., acquired 5,768 shares of common stock at $0.00 and disposed of 664 shares at $38.
• These transactions resulted in Mr. Bonnar beneficially owning 10,727 shares of common stock following the reported transactions.
• The acquisition of 5,768 shares represents restricted stock units granted on March 1, 2024, vesting at a rate of 33.3% per year commencing on March 1, 2025.
• The disposal of 664 shares was due to Metropolitan Bank Holding Corp. withholding shares for tax obligations upon delivery of previously granted shares.
• Mr. Bonnar also granted a power of attorney to Dixiana M. Berrios, Mark R. DeFazio, Scott Lublin, Frederick F. Erikson, and Daniel Dougherty on January 23, 2024, authorizing them to file Form ID, Form 3, Form 4, or Form 5 on his behalf.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports routine transactions related to stock vesting and tax obligations. There are no significant positive or negative implications.

Positives

• The acquisition of restricted stock units indicates confidence in the company's future performance.

Negatives

• The disposal of shares to cover tax obligations could be perceived as a minor negative, although it's a standard practice.

Risks

• There are no specific risks highlighted in this document, as it primarily concerns changes in beneficial ownership and administrative matters.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure related to insider transactions, which is a common occurrence in publicly traded companies. It provides transparency to investors regarding the actions of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives.
• The transactions reported are typical for executives receiving stock-based compensation and managing their tax obligations.
• Similar filings can be observed across the financial industry for companies like JPMorgan Chase, Bank of America, and Citigroup when their executives trade company stock.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
• The disclosure provides transparency to shareholders regarding insider transactions.

Key Dates