Form 4: OceanFirst Financial COO Reports Tax-Related Stock Withholding

OceanFirst Financial's Senior EVP and COO, Joseph Lebel III, reported a tax-related withholding of 9,499 common shares following restricted stock vesting.

Summary

• Joseph Lebel III, Senior EVP and COO, and a Director of OceanFirst Financial Corp (OCFC), reported a transaction on March 4, 2026.
• The transaction involved the disposition of 9,499 shares of common stock at a price of $18.58 per share.
• This disposition was not a sale but rather a withholding of shares to satisfy tax liabilities associated with the vesting of restricted stock.
• Following this transaction, Mr. Lebel directly beneficially owns 320,152 shares of common stock, which includes unvested restricted stock.
• He also indirectly owns 12,976 shares via a 401(k), 15,093 shares via an ESOP, and 783 shares via his spouse.
• Mr. Lebel continues to hold various stock options, including 45,000 options at $29.01, 15,485 options at $27.40, 100,670 options at $25.20, and 153,585 options at $20.44.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral-to-slightly positive event, as it indicates the vesting of restricted stock, a form of executive compensation, without a discretionary sale by the insider.

Positives

• The transaction indicates the vesting of restricted stock, which is a form of executive compensation and generally a positive for the executive.
• The disposition of shares was for tax withholding purposes, not a discretionary sale by the insider, suggesting no change in management's confidence in the company.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions, providing transparency into executive stock ownership changes. This specific filing reflects a common practice where shares are withheld to cover tax obligations upon the vesting of restricted stock, rather than a discretionary sale by the executive. This is typical for executive compensation plans in the financial services industry.

Comparison to Industry Standards

• This is a routine tax-related transaction for executive compensation, aligning with standard practices across publicly traded companies, particularly in the financial sector, where restricted stock units (RSUs) are a common component of executive pay.

Related Party Transactions

• The reported transaction is a related party dealing involving the company's Senior EVP and COO, Joseph Lebel III, related to his executive compensation.

Stakeholder Impact

• Shareholders: Minor impact, as this is a routine tax-related transaction and not a discretionary sale that would signal a change in management's confidence.
• Employees: No direct impact beyond the executive involved in the transaction.

Key Dates

Recommendation

This Form 4 filing details a routine tax-related transaction for an executive's restricted stock vesting and does not provide new information that would warrant a change in investment recommendation. It reflects standard executive compensation practices and no discretionary selling.

Keywords

OceanFirst Financial, OCFC, Joseph Lebel III, Form 4, Insider Transaction, Stock Withholding, Restricted Stock, Executive Compensation, Beneficial Ownership, Stock Options