Form 4: OceanFirst CFO's Tax-Related Stock Withholding

OceanFirst Financial Corp's Senior EVP & CFO, Patrick Sean Barrett, had 5,643 shares withheld to cover tax liabilities related to restricted stock vesting.

Summary

• Patrick Sean Barrett, Senior EVP & CFO of OCEANFIRST FINANCIAL CORP (OCFC), reported a transaction on March 4, 2026.
• The transaction involved the disposition of 5,643 shares of Common Stock at a price of $18.48 per share.
• These shares were withheld by the issuer to satisfy tax liabilities associated with the vesting of restricted stock, not a sale of shares.
• Following this transaction, Patrick Sean Barrett directly beneficially owns 147,350 shares of Common Stock.
• Additionally, 1,210 shares are indirectly beneficially owned through an ESOP (Employee Stock Ownership Plan).

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The transaction is a routine, non-discretionary withholding of shares to cover tax liabilities associated with restricted stock vesting, which is a standard practice in executive compensation.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures required by the SEC for company insiders, detailing changes in their beneficial ownership of company securities. This specific filing reflects a common practice where shares are withheld to cover tax obligations upon the vesting of restricted stock, rather than an open market sale.

Stakeholder Impact

• Shareholders: Minimal impact, as this is a routine tax-related transaction and not a discretionary sale or purchase that would signal a change in management's view of the company's prospects.

Key Dates

Keywords

OCEANFIRST FINANCIAL CORP, OCFC, Form 4, Insider Transaction, Stock Withholding, Restricted Stock, Tax Liability, Patrick Sean Barrett, CFO