Form 4: Oak Valley Bancorp EVP Jeffrey Gall Reports Changes in Beneficial Ownership
SEC Form 4 Filing
EVP and Chief Financial Officer of Oak Valley Bancorp, Jeffrey Gall, reports transactions involving company stock, including acquisitions through a 401k plan and restricted stock awards, as well as shares surrendered to cover tax liabilities.
Summary
- Jeffrey Gall, EVP and Chief Financial Officer of Oak Valley Bancorp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On December 31, 2024, Gall acquired 1,000 shares of common stock through the company's 401k plan.
- He also reported an adjustment to holdings for shares acquired through the 401k profit sharing plan in 2024.
- On February 28, 2025, Gall was awarded 1,112 shares of restricted stock that will vest 20% annually from 2026 to 2030.
- On February 28, 2025, shares were surrendered to satisfy tax liabilities on restricted stock issued in previous years (2020-2024) that vested on February 28, 2025.
- Following these transactions, Gall's direct ownership of Oak Valley Bancorp common stock is 38,940 shares.
Sentiment
Score: 6
Explanation: The document reflects standard insider transactions related to compensation and retirement savings, indicating a neutral sentiment.
Positives
- The acquisition of shares through the 401k plan and the award of restricted stock indicate confidence in the company's future performance.
Future Outlook
The restricted stock award vests over a five-year period, suggesting a long-term incentive for the executive.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates normal compensation and investment activity by a key executive.
Comparison to Industry Standards
- Restricted stock awards are a common form of executive compensation in the banking industry, aligning management's interests with those of shareholders.
- The vesting schedule of 20% annually over five years is a typical structure for such awards.
Stakeholder Impact
- The transactions have a minor positive impact on shareholders as they align executive interests with company performance through stock ownership.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Acquisition of 1,000 shares through company 401k plan. |
| 02/28/2025 | Award of 1,112 restricted stock shares and surrender of shares for tax liabilities. |
| 02/28/2026 | First vesting date (20%) for restricted stock awarded on 02/28/2025. |
| 02/28/2027 | Second vesting date (20%) for restricted stock awarded on 02/28/2025. |
| 02/28/2028 | Third vesting date (20%) for restricted stock awarded on 02/28/2025. |
| 02/28/2029 | Fourth vesting date (20%) for restricted stock awarded on 02/28/2025. |
| 02/28/2030 | Final vesting date (20%) for restricted stock awarded on 02/28/2025. |
| 03/11/2025 | Date of Form 4 filing. |
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