Form 4: Provident Bancorp Director Dennis Pollack Acquires 1,950 Shares

Director Dennis Pollack of Provident Bancorp, Inc. recently purchased 1,950 shares of common stock at a price of $10.3 per share.

Summary

• On September 10, 2024, Dennis Pollack, a director of Provident Bancorp, Inc., acquired 1,950 shares of common stock.
• The purchase price was $10.3 per share.
• Following the transaction, Pollack directly owns 37,721 shares of Provident Bancorp, Inc.
• Pollack also holds stock options for 25,500 shares, which vest at a rate of 20% per year starting January 25, 2025.
• The stock options have an exercise price of $11.17 and expire on August 20, 2034.
• The reporting was filed on September 11, 2024, by Ned A. Quint under power of attorney.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a director's stock purchase, which is neutral in sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders of a company (such as directors or officers) buy or sell the company's securities. This provides transparency to the market regarding insider transactions.

Stakeholder Impact

• The purchase of shares by a director could be viewed positively by shareholders as it signals confidence in the company's future.

Key Dates