4/A: Northfield Bancorp EVP David Fasanella Reports Changes in Beneficial Ownership

David Fasanella, EVP of Northfield Bancorp, reports changes in beneficial ownership of common stock due to the vesting of restricted stock units and tax obligations.

Summary

• On February 28, 2024, David Fasanella, EVP of Northfield Bancorp, acquired 2,740 shares of common stock at $0 due to the vesting of performance-based restricted stock units granted on January 29, 2021.
• On the same day, 1,233 shares were disposed of at $9.86 to satisfy tax obligations.
• Following these transactions, Fasanella directly owns 48,006 shares of common stock.
• Fasanella also indirectly owns shares through a 401(k) (2,167.137 shares), an ESOP (5,077.255 shares), and a Roth IRA (3,000 shares).

Sentiment

Score: 6

Explanation: The document reflects routine transactions related to executive compensation and tax obligations. It doesn't indicate any significant positive or negative developments for the company.

Positives

• The vesting of restricted stock units indicates that performance goals were likely met, which is a positive signal.

Negatives

• The disposal of shares to cover tax obligations reduces Fasanella's direct ownership, although this is a common occurrence.

Risks

• There are no specific risks mentioned in this document.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices and tax-related transactions.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time based on performance or tenure, similar to the arrangement for David Fasanella.
• The practice of withholding shares to cover tax obligations is a common practice across publicly traded companies.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.

Key Dates