Form 4: OceanFirst Financial Corp: Executive Steven James Tsimbinos Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Steven James Tsimbinos, a Senior EVP & Corp. Secretary at OceanFirst Financial Corp, reports changes in beneficial ownership of company stock due to tax liability satisfaction and exempt acquisitions.
Summary
- On March 5, 2025, Steven James Tsimbinos, a Senior EVP & Corp. Secretary at OceanFirst Financial Corp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- 6,973 shares of common stock were disposed of at a price of $18.01 to satisfy tax liabilities related to the vesting of restricted stock; no shares were sold.
- Tsimbinos's direct holdings of common stock after the transaction amount to 188,878 shares.
- He also holds 9,565 shares of common stock indirectly through a 401(k) and 7,084 shares through an ESOP.
- Additionally, he directly owns 3,000 shares of Series A Redeemable Preferred Stock.
- Tsimbinos also holds options to buy shares of common stock at various prices and expiration dates, totaling 205,665 shares.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reflects routine transactions related to tax obligations and stock option exercises. There's no indication of significant positive or negative sentiment.
Positives
- The reporting person continues to hold a significant number of shares and stock options, indicating continued investment in the company's future.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the disposition of shares to cover tax liabilities, which is a common practice.
Key Dates
| Date | Description |
|---|---|
| 03/01/2016 | Date exercisable for stock options with an expiration date of 03/18/2025 and exercise price of $17.37. |
| 03/01/2017 | Date exercisable for stock options with an expiration date of 03/16/2026 and exercise price of $17.28. |
| 03/01/2018 | Date exercisable for stock options with an expiration date of 03/15/2027 and exercise price of $29.01. |
| 03/01/2019 | Date exercisable for stock options with an expiration date of 01/24/2028 and exercise price of $27.4. |
| 03/01/2020 | Date exercisable for stock options with an expiration date of 03/01/2029 and exercise price of $25.2. |
| 03/01/2021 | Date exercisable for stock options with an expiration date of 02/28/2030 and exercise price of $20.44. |
| 03/05/2025 | Date of the transaction reported in the Form 4 filing. |
| 03/06/2025 | Date of signature on the Form 4 filing. |
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