Form 4: OceanFirst Financial Corp Director Jack M. Farris Reports Changes in Beneficial Ownership

Director Jack M. Farris reports acquisition and disposal of OceanFirst Financial Corp stock, including restricted shares and stock options.

Summary

• On February 28, 2024, Jack M. Farris, a director of OceanFirst Financial Corp, reported changes in beneficial ownership of the company's stock.
• Farris acquired 3,354 shares of common stock at $0, and disposed of 1 share.
• Following the transaction, Farris beneficially owns 16,859 shares of common stock.
• Farris also holds options to buy 17,065 shares of common stock at an exercise price of $20.44, which were granted on March 1, 2021, and expire on February 28, 2030.
• The options vest in five equal annual installments beginning on the date first exercisable.
• The restricted shares vest in three equal annual installments beginning on March 1, 2025.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions.

Positives

• The acquisition of shares by a director could be seen as a positive signal about the company's prospects.

Future Outlook

The document does not contain specific forward-looking statements, but it does detail the vesting schedules for restricted shares and stock options.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock.

Stakeholder Impact

• The transactions may be of interest to shareholders as they provide insight into the actions of a company director.

Key Dates