Form 4: Oak Valley Bancorp EVP Julie Dehart Reports Changes in Beneficial Ownership

Julie Dehart, EVP Retail Banking at Oak Valley Bancorp, reports transactions involving common stock, including acquisitions through a 401k plan and restricted stock awards, as well as shares surrendered for tax liabilities.

Summary

• Julie Dehart, EVP Retail Banking at Oak Valley Bancorp, filed a Form 4 detailing changes in her beneficial ownership of the company's common stock.
• On December 31, 2024, Dehart acquired 1,053 shares through the company's 401k plan.
• An adjustment was made for shares acquired through the 401k profit sharing plan in 2024.
• On February 28, 2025, Dehart was awarded 1,112 shares of restricted stock that will vest 20% annually from 2026 to 2030.
• Also on February 28, 2025, shares were surrendered to satisfy tax liabilities on restricted stock that vested, specifically from grants issued on February 28 of 2022, 2023 and 2024.
• After these transactions, Dehart directly owns 21,000 shares of Oak Valley Bancorp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions related to compensation and 401k activity. There is no indication of unusual or concerning activity.

Positives

• The acquisition of shares through the 401k plan and the award of restricted stock indicate confidence in the company's future.

Negatives

• The surrender of shares to cover tax liabilities, while a normal occurrence, slightly reduces the total holdings.

Future Outlook

The restricted stock awards suggest a long-term incentive plan for the executive, aligning her interests with the company's performance over the next five years.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Restricted stock awards are a common form of executive compensation in the banking industry, used to incentivize performance and retain key personnel.
• The vesting schedule of 20% annually over five years is a typical structure for such awards.
• Comparing the size of the restricted stock award to those of executives at peer banks (e.g., West Coast Community Bancorp, Citizens Business Bank) would provide a benchmark for assessing its relative value.

Stakeholder Impact

• The transactions have a minor positive impact on shareholders by aligning executive interests with company performance through stock ownership.
• Employees participating in the 401k plan benefit from the company's contributions and stock performance.

Key Dates