Form 4: Norwood Financial Corp Director Lewis J. Critelli Reports Share Acquisition
SEC Form 4 Filing
Director Lewis J. Critelli of Norwood Financial Corp. acquired 825 shares of common stock at $27.25 per share on December 24, 2024, through a restricted stock award.
Summary
- Lewis J. Critelli, a director at Norwood Financial Corp., reported acquiring 825 shares of common stock on December 24, 2024.
- The shares were acquired through a restricted stock award at a price of $27.25 per share.
- Critelli also indirectly owns 30,216 shares through an ESOP, 500 shares through a restricted stock award vesting from 2021, 2,700 shares through a restricted stock award vesting from 2023, 420 shares through a restricted stock award vesting from 2023, and 560 shares through a restricted stock award vesting from 2024.
- The reported transaction also includes a tax withholding of a portion of a prior award upon vesting.
Sentiment
Score: 6
Explanation: The document is a routine filing and does not indicate any significant positive or negative sentiment. The acquisition of shares by a director is generally viewed as a positive sign, but it is a small transaction.
Positives
- The acquisition of shares by a director can be seen as a positive sign of confidence in the company's future.
Industry Context
This is a standard SEC Form 4 filing, which is common for corporate insiders reporting changes in their beneficial ownership of company stock. It is a routine part of corporate governance and transparency.
Comparison to Industry Standards
- Form 4 filings are a standard practice for publicly traded companies in the United States.
- The reporting of stock acquisitions by directors is a common occurrence and is required by the SEC to ensure transparency and prevent insider trading.
- The vesting schedules for the restricted stock awards are typical for executive compensation packages.
Stakeholder Impact
- The acquisition of shares by a director may have a slightly positive impact on shareholder confidence.
Key Dates
| Date | Description |
|---|---|
| 12/08/2021 | First vesting date for a restricted stock award of 500 shares. |
| 05/10/2023 | First vesting date for a restricted stock award of 2,700 shares. |
| 12/13/2023 | First vesting date for a restricted stock award of 420 shares. |
| 12/12/2024 | First vesting date for a restricted stock award of 560 shares. |
| 12/24/2024 | Date of the reported transaction where 825 shares were acquired. |
| 12/15/2025 | First vesting date for a restricted stock award of 825 shares. |
| 12/26/2024 | Date the form was signed. |
Keywords
Norwood Financial Corp, NWFL, Lewis J. Critelli, Director, Share Acquisition, Restricted Stock Award, Insider Trading, Form 4
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