Form 4: Sandy Spring Bancorp Director Kenneth C. Cook Reports Changes in Beneficial Ownership
SEC Form 4
Director Kenneth C. Cook reports acquisition and disposal of Sandy Spring Bancorp stock and restricted stock units.
Summary
- Kenneth C. Cook, a director of Sandy Spring Bancorp, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On May 22, 2024, Cook acquired 2,078 shares of common stock.
- Cook also disposed of 2,785.5874 shares, 285,555.0361 shares and 958 shares of common stock.
- These transactions involved the acquisition of restricted stock units and disposals of common stock.
- Following these transactions, Cook directly owns 10,072 stock options exercisable at $16.20, 7,466 stock options exercisable at $14.77, and 35,784 stock options exercisable at $14.77.
- The restricted stock units granted under the 2024 Equity Plan will vest entirely on May 22, 2025.
- Restricted stock units awarded under the 2015 Omnibus Incentive Plan will vest ratably on April 1, 2023, April 1, 2024, and April 1, 2025.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the trading activities of a company director.
- The transactions may influence investor sentiment regarding the company's stock.
Key Dates
| Date | Description |
|---|---|
| 06/16/2015 | Date of stock options (Right to Buy) with an exercise price of $14.77 |
| 04/01/2020 | Date of stock options (Right to Buy) with an exercise price of $16.20 |
| 04/01/2020 | Date of stock options (Right to Buy) with an exercise price of $14.77 |
| 04/01/2023 | Vesting date for restricted stock units awarded under 2015 Omnibus Incentive Plan. |
| 04/01/2024 | Vesting date for restricted stock units awarded under 2015 Omnibus Incentive Plan. |
| 05/22/2024 | Date of earliest transaction: acquisition and disposal of common stock and restricted stock units. |
| 05/24/2024 | Date of Form 4 filing. |
| 06/16/2025 | Expiration date of stock options (Right to Buy) with an exercise price of $14.77 |
| 05/19/2025 | Expiration date of stock options (Right to Buy) with an exercise price of $14.77 |
| 05/22/2025 | Vesting date for restricted stock units granted under the Sandy Spring Bancorp, Inc. 2024 Equity Plan. |
| 04/01/2025 | Vesting date for restricted stock units awarded under 2015 Omnibus Incentive Plan. |
| 02/16/2026 | Expiration date of stock options (Right to Buy) with an exercise price of $16.20 |
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