Form 4: Quaint Oak Bancorp EVP John Augustine Reports Changes in Beneficial Ownership

John Augustine, EVP & Chief Financial Officer of Quaint Oak Bancorp, reports a disposition of shares to cover tax obligations and updates on holdings in 401(k), IRA, and ESOP accounts.

Summary

• John Augustine, the EVP & Chief Financial Officer of Quaint Oak Bancorp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On May 10, 2024, he disposed of 331 shares of common stock at $10.1 per share to meet tax obligations related to a stock benefit plan distribution.
• Following the transaction, Augustine directly owns 45,227 shares of common stock, including 3,600 unvested shares granted under the 2023 Stock Incentive Plan.
• He also indirectly owns 13,718.826 shares through a 401(k) plan, 25,200 shares through an IRA, 3,000 shares through his spouse, and 20,126.9788 shares through an ESOP.
• Augustine holds options to purchase 17,000 shares at $13.3, which vested at 20% per year starting May 9, 2019, and options to purchase 15,000 shares at $18, vesting at 20% per year starting May 10, 2024.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't inherently indicate positive or negative sentiment, but rather reports transactions as required.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders, providing transparency into their transactions in company stock. This filing indicates typical activity related to stock compensation and tax obligations.

Stakeholder Impact

• The disposition of shares by an executive could be perceived neutrally or slightly negatively by shareholders if interpreted as a lack of confidence, although in this case, it's explained as covering tax obligations.
• The vesting of stock options and allocation of shares through benefit plans are generally positive for employees as they represent compensation and ownership opportunities.

Key Dates