Form 4: Sandy Spring Bancorp EVP Philip Mantua Reports Changes in Beneficial Ownership

Philip Mantua, EVP and CFO of Sandy Spring Bancorp, reports the withholding of shares to cover tax obligations and details of restricted stock unit vesting.

Summary

• On April 1, 2024, Philip J Mantua, EVP and Chief Financial Officer of Sandy Spring Bancorp, had shares of common stock withheld to satisfy tax obligations related to vested restricted stock.
• A total of 1,228 shares were withheld at a price of $23.18 per share.
• Following the transaction, Mantua directly owns 60,402 shares of common stock.
• Mantua also has indirect ownership of 12,932.638 shares through a 401(k) plan.
• Mantua holds restricted stock units that will vest on April 1 of 2025, 2026 and 2027.
• The filing also details restricted stock units awarded under the 2015 Omnibus Incentive Plan that vest over multiple years.

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 regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.

Key Dates