Form 4: Northfield Bancorp CEO Sells Shares for Tax Obligations

Northfield Bancorp's Chairman, President, and CEO, Steven M. Klein, sold common stock to cover tax obligations related to stock appreciation rights.

Summary

• Steven M. Klein, Chairman, President & CEO of Northfield Bancorp, Inc. (NFBK), reported transactions involving the disposition of common stock.
• On January 27, 2026, Klein disposed of 2,187 shares of common stock at a price of $11.99 per share.
• On January 29, 2026, an additional 1,125 shares of common stock were disposed of at a price of $12.15 per share.
• These sales, totaling 3,312 shares, were made to satisfy tax obligations in connection with an exercise of stock appreciation rights.
• Following these transactions, Klein directly beneficially owns 473,993 shares of common stock.
• Klein also indirectly beneficially owns 55,459.19 shares through an ESOP and 65,806.61 shares through a 401(k) plan.
• He holds 40,000 stock options with an exercise price of $16.89, exercisable from November 1, 2018, and expiring on November 1, 2027.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. The insider sales are for tax purposes, a routine event following the exercise of stock appreciation rights, and do not reflect a discretionary decision to reduce exposure to the company's stock.

Positives

• The underlying event for the share sales was the exercise of stock appreciation rights, indicating a prior gain for the executive.

Negatives

• The transactions resulted in a reduction of Steven M. Klein's direct beneficial ownership of common stock by 3,312 shares.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that insider sales to cover tax obligations, often associated with the exercise of stock options or appreciation rights, are a routine occurrence in publicly traded companies. Such transactions are typically not indicative of management's sentiment regarding the company's future prospects, unlike discretionary sales.

Stakeholder Impact

• Shareholders: A minor reduction in direct insider ownership, which is generally not considered a significant event given the tax-related nature of the sale.

Key Dates

Recommendation

The reported transactions are routine insider sales to cover tax obligations arising from the exercise of stock appreciation rights. This type of transaction does not typically signal a change in the company's fundamental outlook or warrant a strong buy/sell recommendation based solely on this filing. Therefore, a 'hold' recommendation is appropriate as this filing provides no new material information to alter an existing investment thesis.

Keywords

NFBK, Northfield Bancorp, Steven M. Klein, Insider Transaction, Form 4, Stock Sale, Tax Obligations, Stock Options, Corporate Governance