Form 4: OceanFirst Financial Corp Executive Lebel Joseph III Reports Stock Transactions

Joseph Lebel III, Senior EVP and COO of OceanFirst Financial Corp, reports disposition of shares to cover tax liabilities and ongoing beneficial ownership through ESOP and 401(k) plans.

Summary

• On March 5, 2025, Joseph Lebel III, Senior EVP and COO of OceanFirst Financial Corp, reported a transaction involving common stock.
• 13,769 shares were disposed of at a price of $18.01 to satisfy tax liabilities related to the vesting of restricted stock; no shares were sold.
• Following the transaction, Lebel directly owns 292,158 shares of common stock.
• Lebel also indirectly owns 14,102 shares through an ESOP and 12,399 shares through a 401(k).
• Lebel also owns 4,000 shares of Series A Redeemable Preferred Stock.
• Lebel also holds options to buy common stock at prices ranging from $17.28 to $29.01, with expiration dates between 2025 and 2030, totaling 391,240 shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing is a routine disclosure of stock transactions by an executive. The disposal of shares is for tax purposes, which is a common practice.

Positives

• The reporting person's continued holding of a significant number of shares and stock options indicates confidence in the company's future.

Management Comments

• The reported shares were withheld to satisfy the tax liability in connection with the vesting of restricted stock; no shares were sold.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to gauge management's perspective on the company's stock.

Comparison to Industry Standards

• Comparing Lebel's holdings and transactions to those of executives at similar regional banks would provide a benchmark for assessing the magnitude of his stake and the frequency of his trading activity.
• Analyzing the vesting schedules and option grants relative to industry norms can offer insights into OceanFirst's compensation practices.

Stakeholder Impact

• The transaction may have a minor impact on shareholders as it reflects insider activity, but the explanation provided suggests it's a routine tax-related event.

Key Dates