Form 4: Sandy Spring Bancorp EVP, Chief Risk Officer Kevin Slane Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Kevin Slane, EVP and Chief Risk Officer of Sandy Spring Bancorp, reports changes in beneficial ownership of common stock due to tax obligations and vesting of restricted stock units.
Summary
- Kevin Slane, the EVP and Chief Risk Officer of Sandy Spring Bancorp, filed a Form 4 to report changes in his beneficial ownership of the company's common stock on April 1, 2024.
- 944 shares were disposed of to cover tax obligations at a price of $23.18 per share following the vesting of restricted stock.
- Slane directly owns 18,948.9653 shares of common stock following the reported transactions.
- He also holds restricted stock units that will vest on April 1st of 2025, 2026 and 2027.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions for tax purposes and vesting, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 04/01/2023 | First vesting date for some restricted stock units. |
| 04/01/2024 | Date of transaction: Shares withheld for tax obligations and vesting of restricted stock units. |
| 04/01/2024 | Second vesting date for some restricted stock units. |
| 04/01/2025 | Vesting date for restricted stock units awarded under the 2015 Omnibus Incentive Plan. |
| 04/01/2026 | Vesting date for restricted stock units awarded under the 2015 Omnibus Incentive Plan. |
| 04/01/2027 | Vesting date for restricted stock units awarded under the 2015 Omnibus Incentive Plan. |
| 04/02/2024 | Date of Form 4 filing. |
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