Form 4: PKBK CEO Gifts Shares, Adjusts Holdings
Insider Transaction Report
Parke Bancorp's President and CEO, Vito S. Pantilione, reported a gift of 1,200 common shares, adjusting his beneficial ownership.
Summary
- Vito S. Pantilione, President & CEO and Director of PARKE BANCORP, INC. (PKBK), reported a transaction involving common stock.
- On September 29, 2025, Pantilione disposed of 1,200 shares of common stock from his direct holdings at a price of $21.74 per share.
- Concurrently, 1,200 shares of common stock were acquired indirectly 'In Trust For' (ITF) at the same price of $21.74 per share, indicating a gift transaction.
- Following this transaction, Pantilione directly beneficially owns 235,129 shares of common stock.
- Indirect beneficial ownership includes 17,342 shares (ITF), 43,958 shares (IRA), 2,225 shares (Spouse), and 15,640 shares (401K).
- Pantilione also holds derivative securities in the form of stock options: 13,200 options exercisable at $20.14 (expiring 08/22/2028) and 22,500 options exercisable at $12.29 (expiring 04/24/2030).
Sentiment
Score: 5
Explanation: A Form 4 filing reports an insider transaction (gift of shares), which is generally neutral for company sentiment unless it signals a significant change in insider confidence, which is not the case here. The transaction is small relative to total holdings and likely for estate planning.
Industry Context
This filing is a standard insider transaction report and does not provide information relevant to broader industry trends or competitor analysis.
Related Party Transactions
- The gift of 1,200 shares to an 'In Trust For' (ITF) account suggests a transfer to a related party, likely for estate planning purposes.
Stakeholder Impact
- Shareholders: Minimal impact due to the small number of shares involved in the gift transaction.
- Management: The transaction reflects a change in the form of beneficial ownership for the President & CEO, Vito S. Pantilione, primarily for personal financial planning.
Key Dates
| Date | Description |
|---|---|
| 08/22/2023 | Date exercisable for 13,200 stock options with an exercise price of $20.14. |
| 04/24/2025 | Date exercisable for 22,500 stock options with an exercise price of $12.29. |
| 09/29/2025 | Transaction date for the gift of 1,200 shares of common stock. |
| 10/01/2025 | Signature date of the reporting person. |
| 08/22/2028 | Expiration date for 13,200 stock options. |
| 04/24/2030 | Expiration date for 22,500 stock options. |
Keywords
PARKE BANCORP, PKBK, Vito S. Pantilione, SEC Form 4, insider transaction, common stock, gift, beneficial ownership, CEO, director, stock options
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