Form 4: Middlefield Banc Corp Executive Courtney Erminio Reports Stock Award and Transactions
SEC Form 4 Filing
Courtney Erminio, EVP/Chief Risk Officer of Middlefield Banc Corp, reports the acquisition of conditional stock awards and transactions involving common stock.
Summary
- Courtney Erminio, the EVP/Chief Risk Officer of Middlefield Banc Corp, filed a Form 4 detailing changes in beneficial ownership.
- The report includes the acquisition of 2,828 shares through a conditional stock award on January 14, 2025, vesting over three years.
- The filing also mentions previous conditional stock awards granted on September 6, 2027 (2,561 shares), March 10, 2026 (1,628 shares), and February 23, 2025 (1,713 shares).
- Erminio also reported transactions involving common stock, including acquisitions under the MBCN Dividend Reinvestment Plan.
- The report indicates that Erminio directly owns 2,907.991 shares of common stock and indirectly owns 150.525 shares jointly with a spouse.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The filing reflects standard executive compensation practices and insider ownership, suggesting confidence in the company's future.
Positives
- The filing indicates continued investment and participation in Middlefield Banc Corp by a key executive.
- The vesting schedule of the stock awards incentivizes long-term commitment from the executive.
Future Outlook
The executive's future ownership will be influenced by vesting of stock awards and participation in the dividend reinvestment plan.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the executive's ongoing investment in the company.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
- The vesting schedule of the stock awards aligns executive interests with long-term shareholder value.
Key Dates
| Date | Description |
|---|---|
| 02/25/2022 | Date of Form 8-K filing related to vesting conditions of a conditional stock award. |
| 03/17/2023 | Date of Form 8-K filing related to vesting conditions of a conditional stock award. |
| 02/23/2025 | Date of conditional stock award (1,713 shares). |
| 01/14/2025 | Date of the earliest transaction reported and a conditional stock award (2,828 shares). |
| 01/17/2025 | Date of Form 8-K filing related to vesting conditions of a conditional stock award. |
| 01/23/2025 | Date of signature for the Form 4 filing. |
| 03/10/2026 | Date of conditional stock award (1,628 shares). |
| 09/06/2027 | Date of conditional stock award (2,561 shares). |
| 01/14/2028 | Expiration date of the conditional stock award granted on 01/14/2025. |
Keywords
Form 4, Beneficial Ownership, Stock Award, MBCN, Middlefield Banc Corp, Erminio, Restricted Stock
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