Form 4: OceanFirst Financial Corp: CFO Barrett Settles Tax Obligations with Stock
SEC Form 4 Filing
Senior EVP & CFO Patrick Sean Barrett of OceanFirst Financial Corp. settled tax liabilities related to vesting restricted stock by withholding shares on March 5, 2025.
Summary
- On March 5, 2025, Patrick Sean Barrett, Senior EVP & CFO of OceanFirst Financial Corp., had 3,517 common stock shares withheld to cover tax liabilities associated with the vesting of restricted stock at a price of $18.01 per share.
- Following the transaction, Barrett directly owns 133,897 shares of common stock, 816 shares indirectly through an ESOP, and 2,000 shares of Series A Redeemable Preferred Stock.
- The transaction did not involve any sale of shares.
Sentiment
Score: 7
Explanation: The document reflects a neutral event (stock withholding for tax purposes). It's a routine transaction and doesn't indicate any significant positive or negative sentiment.
Industry Context
This is a routine Form 4 filing, reflecting insider transactions related to stock-based compensation. It's common for executives to have shares withheld to cover tax obligations upon vesting of restricted stock units.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine stock withholding for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 03/05/2025 | Date of transaction: Stock withholding for tax liability. |
| 03/06/2025 | Date of signature by Steven J. Tsimbinos, Power of Attorney. |
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