Form 4: Old Point Financial Corp Executive Witt Joseph R Reports Stock Transaction
SEC Form 4 Filing
Joseph R. Witt, a director and officer of Old Point Financial Corp, reports the disposition of 476 shares of common stock to cover withholding taxes related to vested restricted stock.
Summary
- On May 3, 2025, Joseph R. Witt, a Director and Officer (President/Financial Svcs, CSO) of Old Point Financial Corp, disposed of 476 shares of common stock.
- The transaction was executed to satisfy withholding taxes related to previously granted restricted stock that vested on the same date.
- The price per share for the transaction was $39.5.
- Following the transaction, Witt directly owns 22,780 shares of Old Point Financial Corp common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral. This is a routine transaction related to tax obligations on vested stock, and doesn't indicate any strategic shift or concern about the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard process of covering tax obligations related to stock vesting.
Stakeholder Impact
- The transaction has minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/03/2025 | Date of transaction: Shares of common stock surrendered to the Company to satisfy the withholding taxes relating to previously granted shares of restricted stock that vested. |
| 05/06/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, insider trading, stock transaction, Old Point Financial Corp, OPOF, Joseph R. Witt, restricted stock, withholding taxes, beneficial ownership
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