Form 4: Sandy Spring Bancorp EVP, Susan Lynne Pulford, Reports Stock Transactions
SEC Form 4 Filing
EVP of Consumer Banking at Sandy Spring Bancorp, Susan Lynne Pulford, reports disposition of shares for tax purposes and vesting of restricted stock.
Summary
- On April 1, 2024, Susan Lynne Pulford, EVP of Consumer Banking at Sandy Spring Bancorp, reported a transaction involving common stock.
- 760 shares were disposed of to cover tax obligations related to the vesting of restricted stock at a price of $23.18 per share.
- Following the transaction, Ms. Pulford directly owns 12,006.32 shares of common stock.
- Ms. Pulford also has indirect ownership through restricted stock awards and restricted stock units that vest over time.
Sentiment
Score: 5
Explanation: The filing is a routine disclosure of insider transactions, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which is important for maintaining market confidence.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding insider trading activity.
Key Dates
| Date | Description |
|---|---|
| 04/01/2021 | Start date for annual vesting of restricted stock awarded under the 2015 Omnibus Incentive Plan for five years. |
| 04/01/2023 | Start date for ratable vesting of restricted stock units awarded under the 2015 Omnibus Incentive Plan over three years. |
| 04/01/2024 | Date of the reported transaction where shares were disposed of for tax purposes and restricted stock units vested. |
| 04/01/2024 | Start date for ratable vesting of restricted stock units awarded under the 2015 Omnibus Incentive Plan over three years. |
| 04/01/2025 | Start date for ratable vesting of restricted stock units awarded under the 2015 Omnibus Incentive Plan over three years. |
| 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 signature for the Form 4 filing. |
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