4/A: Norwood Financial Corp: Executive John F. Carmody Reports Changes in Beneficial Ownership

EVP & Chief Credit Officer John F. Carmody reports a transaction involving Norwood Financial Corp common stock, including the vesting of restricted stock awards and a transaction related to tax obligations.

Summary

• John F. Carmody, EVP & Chief Credit Officer of Norwood Financial Corp, filed an amended Form 4 on February 13, 2025, reporting changes in beneficial ownership of the company's common stock.
• The report details a transaction on December 20, 2024, where 392 shares of common stock were disposed of at a price of $30.61 per share to cover tax obligations related to vesting restricted stock.
• Carmody directly owns 8,682 shares of common stock and indirectly owns shares through an ESOP (10,896 shares) and restricted stock awards (250, 600, 900, and 1,200 shares vesting annually).
• The amendment includes 1,400 restricted shares that vested that were previously unreported.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.

Comparison to Industry Standards

• Executive compensation practices, including the use of restricted stock awards, are common across the financial services industry.
• Companies like PNC Financial Services, M&T Bank, and Citizens Financial Group also utilize similar equity-based compensation plans for their executives.
• The vesting schedules and terms of these awards are generally aligned with industry norms to incentivize long-term performance and retention.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive stock ownership.
• It assures stakeholders that executives' interests are aligned with theirs through equity ownership.

Key Dates

Keywords

beneficial ownership, Form 4, Norwood Financial Corp, NWFL, John F. Carmody, stock transaction, restricted stock, ESOP, EVP & Chief Credit Officer