Form 4: OceanFirst Financial Corp Executive Brian Schaeffer Reports Stock Sale
SEC Form 4 Filing
Brian Schaeffer, EVP & CIO of OceanFirst Bank, reports the sale of 3,500 shares of OceanFirst Financial Corp stock at $15.49 per share on May 2, 2024.
Summary
- Brian Schaeffer, EVP & CIO of OceanFirst Bank, filed a Form 4 on May 8, 2024, reporting a change in beneficial ownership of OceanFirst Financial Corp [OCFC] stock.
- On May 2, 2024, Schaeffer sold 3,500 shares of common stock at a price of $15.49 per share.
- Following the transaction, Schaeffer directly owns 41,868 shares of common stock, which includes unvested restricted stock.
- Schaeffer also indirectly owns 2,480 shares through an ESOP.
- Additionally, Schaeffer holds a stock option to buy 1,151 shares of common stock at an exercise price of $22.69, which was granted on January 31, 2018, and expires on March 1, 2026.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting a stock sale by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the transaction.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a sale of shares by an executive, which could be for personal financial planning reasons.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
Key Dates
| Date | Description |
|---|---|
| 01/31/2018 | Date stock option was granted. |
| 03/01/2026 | Expiration date of stock option. |
| 05/02/2024 | Date of stock sale transaction. |
| 05/08/2024 | Date of Form 4 filing. |
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