Form 4: S&T Bancorp Executive Vice President Stephen A. Drahnak Reports Stock Transactions
SEC Form 4
Stephen A. Drahnak, Executive Vice President of S&T Bancorp, reports transactions involving common stock and restricted stock units on April 1, 2025.
Summary
- On April 1, 2025, Stephen A. Drahnak, Executive Vice President of S&T Bancorp, executed several transactions involving S&T Bancorp's common stock and restricted stock units.
- These transactions included the vesting of performance-based restricted stock units granted on April 1, 2022, under the company's 2022 Long Term Incentive Plan.
- The performance period for these units was from January 1, 2022, to December 31, 2024, with achievement determined by the Issuer's Compensation Committee on March 25, 2025.
- Drahnak also acquired and disposed of common stock to cover tax obligations related to the vesting of the restricted stock units.
- Following these transactions, Drahnak directly owns 14,660.953 shares of common stock and indirectly owns 8,021.4882 shares through a 401-k and 293 shares through a child.
- He also directly owns 1,536 restricted stock units.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey strong positive or negative sentiment, but the vesting of restricted stock units suggests that performance goals were met.
Positives
- The vesting of restricted stock units indicates that performance criteria were met during the performance period from January 1, 2022, to December 31, 2024.
Industry Context
Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their transactions in the company's stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and stock ownership adjustments.
Key Dates
| Date | Description |
|---|---|
| April 1, 2022 | Date of grant for the performance-based restricted stock units under the Issuer's 2022 Long Term Incentive Plan. |
| January 1, 2022 December 31, 2024 | Performance period for the restricted stock units. |
| March 25, 2025 | Date the Issuer's Compensation Committee determined achievement of the applicable performance criteria. |
| April 1, 2025 | Date of the reported transactions, including vesting of restricted stock units and related stock disposals. |
| April 1, 2023 | Start date of the three equal annual installments for some of the restricted stock units. |
| April 1, 2024 | Start date of the three equal annual installments for some of the restricted stock units. |
| April 1, 2025 | Start date of the three equal annual installments for some of the restricted stock units. |
| April 3, 2025 | Date of signature for the Form 4 filing. |
Keywords
S&T Bancorp, Stephen A. Drahnak, Executive Vice President, Form 4, Stock Transactions, Restricted Stock Units, Common Stock, Beneficial Ownership, Insider Trading
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