4/A: S&T Bancorp Executive James Arvo Michie Reports Stock Transactions
SEC Form 4/A
Executive Vice President James Arvo Michie of S&T Bancorp Inc. reports acquisition and disposal of common stock and restricted stock units.
Summary
- James Arvo Michie, an Executive Vice President at S&T Bancorp Inc. (STBA), filed a Form 4/A with the SEC detailing changes in his beneficial ownership of the company's stock.
- The report covers transactions that occurred on April 1, 2025.
- Michie acquired common stock through the vesting of restricted stock units (RSUs) and disposed of common stock to cover tax liabilities associated with the vested RSUs.
- Specifically, he acquired 1,686, 335, 698, and 750 shares of common stock at a price of $37.15 through the conversion of RSUs.
- He also disposed of 574, 115, 238, and 256 shares of common stock at $37.15 to satisfy tax obligations.
- Following these transactions, Michie directly owns 4,945 shares of S&T Bancorp Inc. common stock.
- He also holds various restricted stock units that will vest in the future.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions by an executive, with no inherent positive or negative implications for the company's performance.
Future Outlook
The reporting person holds restricted stock units that will vest in future years, specifically in 2025 and 2026.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
- Companies like JPMorgan Chase & Co. and Bank of America also have executives who regularly file Form 4s for similar transactions involving company stock and stock options.
- The vesting schedules and performance criteria for restricted stock units are typical components of executive compensation packages in the financial services industry.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent a small portion of the company's outstanding shares.
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 04/01/2022 | Date of performance-based restricted stock units granted under the Issuer's 2022 Long Term Incentive Plan. |
| 01/01/2022 | Start of the performance period for the restricted stock units. |
| 12/31/2024 | End of the performance period for the restricted stock units. |
| 03/25/2025 | Date the Issuer's Compensation Committee determined achievement of the applicable performance criteria. |
| 04/01/2025 | Date of the reported transactions: acquisition and disposal of common stock and vesting of restricted stock units. |
| 04/03/2025 | Original Filing Date. |
| 04/04/2025 | Date of the amendment filing (Form 4/A). |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Restricted Stock Units, S&T Bancorp, STBA, Insider Trading
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