Form 4: S&T Bancorp Executive Vice President Stephen A. Drahnak Reports Stock Transactions
SEC Form 4 Filing
Executive Vice President of S&T Bancorp, Stephen A. Drahnak, reports the withholding of 372 shares for tax liabilities and details holdings of common stock and restricted stock units.
Summary
- Stephen A. Drahnak, an Executive Vice President at S&T Bancorp, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- On November 8, 2024, 372 shares of common stock were withheld to cover tax liabilities related to the vesting of restricted stock units at a price of $42.16 per share.
- Following the transaction, Drahnak directly owns 11,419.384 shares of common stock and indirectly owns 7,733.8528 shares through a 401-k plan.
- He also directly owns 8,986.335 shares and indirectly owns 3,111.777 shares through a 401-k plan, as well as 293 shares held indirectly through a child.
- The filing also details holdings of restricted stock units, including 2,292 units vesting from April 1, 2025, 710 units vesting from April 1, 2023, and 1,452 units vesting from April 1, 2024.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions, with no positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice in publicly traded companies. It provides transparency into the holdings of key personnel.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and this filing is consistent with those requirements.
- The reporting of stock transactions and holdings by executives is a common practice across the financial industry, and this filing is similar to those of other executives at comparable companies.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the stock holdings of a key executive.
Key Dates
| Date | Description |
|---|---|
| 11/08/2024 | Date of the stock transaction where shares were withheld for tax liabilities. |
| 04/01/2023 | Start date for vesting of 710 restricted stock units. |
| 04/01/2024 | Start date for vesting of 1,452 restricted stock units. |
| 04/01/2025 | Start date for vesting of 2,292 restricted stock units. |
| 11/12/2024 | Date the Form 4 was signed. |
Keywords
Form 4, Beneficial Ownership, Stock Transaction, Restricted Stock Units, S&T Bancorp, Executive Vice President, Stephen A. Drahnak, Tax Withholding, Common Stock, 401-k
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.