Form 4: OceanFirst Financial Corp: Chief Compliance Officer, Angela K. Ho, Reports Stock Sale to Cover Taxes
SEC Form 4
Angela K. Ho, Chief Compliance Officer of OceanFirst Financial Corp, reports the sale of 685 shares of common stock to cover taxes associated with vesting restricted stock.
Summary
- On March 5, 2024, Angela K. Ho, Chief Compliance Officer of OceanFirst Financial Corp, sold 685 shares of common stock at a price of $14.87 per share.
- The sale was executed to cover taxes associated with vesting restricted stock.
- Following the transaction, Ho directly owns 22,006 shares of common stock and indirectly owns 2,604 shares through an ESOP.
- Ho also holds options to purchase 7,390 shares of common stock at exercise prices of $29.01 and $27.40, expiring in 2027 and 2028 respectively.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to insider trading. It doesn't inherently convey positive or negative sentiment, as it simply reports a transaction.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders. This particular filing indicates a sale of shares to cover tax obligations, which is a common practice.
Stakeholder Impact
- The sale of shares by a company insider could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale (tax obligations) and the relatively small number of shares involved.
Key Dates
| Date | Description |
|---|---|
| 03/01/2018 | Date exercisable for stock options with an expiration date of 03/15/2027 and an exercise price of $29.01. |
| 03/01/2019 | Date exercisable for stock options with an expiration date of 01/24/2028 and an exercise price of $27.40. |
| 03/05/2024 | Date of the transaction where 685 shares of common stock were sold. |
| 03/07/2024 | Date of signature for the Form 4 filing. |
| 03/15/2027 | Expiration date for stock options with an exercise price of $29.01. |
| 01/24/2028 | Expiration date for stock options with an exercise price of $27.40. |
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