Form 4: OceanFirst Financial Corp Executive Sells Shares to Cover Taxes
SEC Form 4
Anthony Giordano III, Chief of Banking Operations at OceanFirst Financial Corp, sold 1,980 shares of common stock on March 5, 2024, to cover associated taxes.
Summary
- On March 5, 2024, Anthony Giordano III, Chief of Banking Operations at OceanFirst Financial Corp, sold 1,980 shares of common stock at a price of $14.81 per share.
- The sale was executed to cover taxes associated with vesting restricted stock.
- Following the transaction, Giordano directly owns 20,479 shares of common stock.
- Giordano also indirectly owns 7,316 shares through an IRA, 3,478 shares through an ESOP, and 182 shares each through Son A and Son B.
- Giordano also holds multiple stock options with varying exercise prices and expiration dates, totaling 29,835 shares of common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider stock sale for tax purposes, which is neither particularly positive nor negative.
Industry Context
This Form 4 filing is a routine disclosure of insider trading activity. It provides transparency into the transactions of company executives and their holdings in the company.
Stakeholder Impact
- The sale of shares by a company executive could be perceived negatively by some shareholders, but the impact is likely minimal as it is for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 01/31/2015 | Date of stock option grant with exercise price $27.34 and expiration date 12/31/2024 |
| 12/31/2015 | Date of stock option grant with exercise price $27.34 and expiration date 12/31/2024 |
| 03/01/2017 | Date of stock option grant with exercise price $17.28 and expiration date 03/16/2026 |
| 03/01/2018 | Date of stock option grant with exercise price $29.01 and expiration date 03/15/2027 |
| 03/01/2019 | Date of stock option grant with exercise price $27.4 and expiration date 01/24/2028 |
| 03/05/2024 | Date of stock sale transaction |
| 03/07/2024 | Date of signature by Power of Attorney |
| 03/15/2027 | Expiration date of stock option granted on 03/01/2018 |
| 03/16/2026 | Expiration date of stock option granted on 03/01/2017 |
| 01/24/2028 | Expiration date of stock option granted on 03/01/2019 |
| 12/31/2024 | Expiration date of stock options granted on 01/31/2015 and 12/31/2015 |
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