Form 4: Northfield Bancorp EVP William R. Jacobs Reports Changes in Beneficial Ownership

William R. Jacobs, EVP & PAO of Northfield Bancorp, reports acquisition and disposal of common stock due to performance-based restricted stock units and tax obligations.

Summary

• On February 28, 2024, William R. Jacobs, EVP & PAO of Northfield Bancorp, reported changes in beneficial ownership of the company's common stock.
• He acquired 3,625 shares of common stock at $0 due to the issuance of common shares in satisfaction of performance-based restricted stock units granted on January 29, 2021.
• He also disposed of 1,632 shares at $9.86 to satisfy tax obligations.
• Following these transactions, Jacobs directly owns 66,453 shares of common stock.
• Additionally, he indirectly owns 30,574.79 shares through an ESOP and 11,777.861 shares through a 401(k).
• Jacobs also holds options for 12,000 shares of common stock exercisable since May 27, 2016, and expiring on May 27, 2025, with an exercise price of $14.76.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing primarily reports routine transactions related to stock options and tax obligations. There is no indication of significant positive or negative sentiment.

Positives

• The acquisition of shares through performance-based restricted stock units suggests that Jacobs has met certain performance criteria.

Negatives

• The disposal of shares to cover tax obligations reduces Jacobs' direct holdings in the company.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in insider ownership.

Key Dates