Form 4: Northfield Bancorp Director Frank Patafio Amends SEC Filing to Correctly Report Stock Transaction

Director Frank Patafio amended a previous SEC filing to accurately reflect a stock transaction, clarifying that the sale was made by him and not his spouse.

Summary

• Frank P. Patafio, a director at Northfield Bancorp, Inc., filed an amended Form 4 with the SEC.
• The amendment corrects a previous filing that incorrectly reported a stock sale as being made by Patafio's spouse.
• The corrected filing shows that Patafio acquired 4,631 shares of common stock and disposed of 152,938 shares.
• Patafio also has 119,424 shares held indirectly by his spouse.
• Additionally, Patafio holds stock options for 32,000 shares of common stock, exercisable at $14.76, expiring on May 27, 2025.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing, indicating no significant positive or negative sentiment. The correction is a positive for transparency.

Industry Context

This filing is a routine disclosure of stock transactions by a company director, which is a common practice in the financial industry to ensure transparency and compliance with regulations.

Comparison to Industry Standards

• SEC Form 4 filings are standard practice for company insiders, such as directors, to report changes in their beneficial ownership of company securities.
• The reporting requirements are consistent across all publicly traded companies in the United States.
• The level of detail provided in this filing is typical for such disclosures, including the number of shares acquired or disposed of, the transaction date, and the nature of ownership (direct or indirect).
• Comparable filings can be found for directors of other publicly traded companies, such as those in the banking sector like Investors Bancorp or OceanFirst Financial Corp.

Stakeholder Impact

• The correction of the filing ensures transparency for shareholders regarding insider transactions.
• The filing provides stakeholders with accurate information about the director's holdings.

Key Dates

Keywords

SEC Form 4, Beneficial Ownership, Stock Transaction, Director, Northfield Bancorp, NFBK, Stock Options, Amendment