4/A: Northfield Bancorp EVP Robin Lefkowitz Reports Changes in Beneficial Ownership
SEC Form 4/A
Robin Lefkowitz, EVP of Northfield Bancorp, reports the acquisition and disposal of common stock due to the vesting of restricted stock units and tax obligations.
Summary
- On February 28, 2024, Robin Lefkowitz, EVP of Northfield Bancorp, engaged in transactions involving the company's common stock.
- Lefkowitz acquired 2,335 shares of common stock related to performance-based restricted stock units granted on January 29, 2021.
- Additionally, 1,051 shares were disposed of to satisfy tax obligations at a price of $9.86 per share.
- Following these transactions, Lefkowitz directly owns 21,609 shares of common stock.
- Lefkowitz also indirectly owns 23,773.554 shares through a 401(k) and 30,376.819 shares through an ESOP.
- The report also details Lefkowitz's ownership of stock options with varying exercise prices and expiration dates.
Sentiment
Score: 6
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, indicating a neutral sentiment.
Positives
- The acquisition of shares through vested restricted stock units suggests the executive is meeting performance goals.
Negatives
- The disposal of shares to cover tax obligations, while common, slightly reduces the executive's direct stake in the company.
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 stock disposals.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units and stock options to align management's interests with those of shareholders.
- The vesting schedules and exercise prices of the stock options appear typical for the financial services industry.
- Similar filings are common among publicly traded companies, such as those in the KBW Nasdaq Regional Banking Index (KRX), where executives regularly report changes in their holdings.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, as they represent a small portion of the total outstanding shares.
- Employees participating in the 401(k) and ESOP plans may be indirectly affected by the overall performance of the company's stock.
Key Dates
| Date | Description |
|---|---|
| 01/29/2021 | Date of grant for Performance-based Restricted Stock Units. |
| 06/11/2015 | Grant date of stock options exercisable at $13.13 expiring on June 11, 2024. |
| 05/27/2016 | Grant date of stock options exercisable at $14.76 expiring on May 27, 2025. |
| 11/16/2017 | Grant date of stock options exercisable at $18.44 expiring on November 16, 2026. |
| 02/28/2024 | Date of the reported transactions (acquisition and disposal of shares). |
| 03/01/2024 | Date of original filing (amended on 04/26/2024). |
| 04/26/2024 | Date of the amendment filing. |
| 06/11/2024 | Expiration date of stock options exercisable at $13.13. |
| 05/27/2025 | Expiration date of stock options exercisable at $14.76. |
| 11/16/2026 | Expiration date of stock options exercisable at $18.44. |
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