4/A: S&T Bancorp Inc. Executive Mark Kochvar Reports Stock Transactions
SEC Form 4/A
Mark Kochvar, SR EXEC VICE PRESIDENT & CFO of S&T Bancorp Inc., reports the vesting and conversion of restricted stock units into common stock, along with associated tax withholdings.
Summary
- Mark Kochvar, a Senior Executive Vice President & CFO at S&T Bancorp Inc. (STBA), filed a Form 4/A with the SEC.
- The report details transactions involving common stock and restricted stock units (RSUs).
- On April 1, 2025, Kochvar converted various tranches of RSUs into common stock at a price of $37.15 per share.
- A total of 8,774 RSUs were converted into common stock.
- Shares were also withheld to cover tax liabilities associated with the vesting of the RSUs.
- Kochvar directly owns 55,723.1671 shares of common stock and indirectly owns 36,910.8405 shares through a 401-k.
- He also holds 3,002 restricted stock units that vest in three equal annual installments beginning April 1, 2026.
- The filing is an amendment to a previous filing made on April 3, 2025, due to a software issue preventing the attachment of footnotes.
Sentiment
Score: 7
Explanation: The sentiment is neutral. It's a routine disclosure of stock transactions. The delay is a minor negative, but the overall impact is minimal.
Future Outlook
The reporting person holds restricted stock units that vest in three equal annual installments beginning April 1, 2026.
Industry Context
This filing is a routine disclosure of insider transactions, which is common in the financial industry. It provides transparency into the trading activities of company executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- Companies like JP Morgan Chase, Bank of America, and Wells Fargo also have executives who regularly file Form 4s to report similar transactions.
- The vesting schedules and terms of RSUs are generally comparable across the financial industry, often tied to performance metrics and continued employment.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the compensation structure for company executives.
- Employees holding similar RSUs may be interested in the vesting schedule and tax implications.
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 earliest transaction; vesting and conversion of RSUs into common stock. |
| 04/03/2025 | Date of original filing which was amended. |
| 04/04/2025 | Date of the amended filing (Form 4/A). |
Keywords
Form 4, S&T Bancorp, STBA, Mark Kochvar, restricted stock units, RSU, common stock, insider trading, SEC filing
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