Form 4: Sandy Spring Bancorp Executive Vice President Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Executive Vice President Joseph J. O'Brien Jr. of Sandy Spring Bancorp reports changes in beneficial ownership of common stock due to tax obligations and vesting of restricted stock units.
Summary
- On April 1, 2024, Joseph J. O'Brien Jr., an Executive Vice President at Sandy Spring Bancorp, had shares of restricted stock vest, and 1,499 shares were withheld for tax obligations at a price of $23.18 per share.
- Following the transaction, O'Brien directly owns 68,591.6997 shares of common stock.
- O'Brien also indirectly owns 5,992.5128 shares through a 401(k).
- Additionally, O'Brien holds restricted stock units that will vest on April 1 of 2025, 2026 and 2027.
- The report was filed on April 2, 2024, by Janet VA Replogle, attorney-in-fact for Mr. O'Brien.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and does not indicate any significant positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects routine executive compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| 04/01/2023 | First vesting date for some restricted stock units awarded under the 2015 Omnibus Incentive Plan. |
| 04/01/2024 | Date of transaction: Shares of restricted stock vested and were withheld for tax obligations; also vesting date for some restricted stock units. |
| 04/01/2025 | Vesting date for some restricted stock units awarded under the 2015 Omnibus Incentive Plan. |
| 04/01/2026 | Vesting date for some restricted stock units awarded under the 2015 Omnibus Incentive Plan. |
| 04/01/2027 | Vesting date for some restricted stock units awarded under the 2015 Omnibus Incentive Plan. |
| 04/02/2024 | Date of filing of the Form 4. |
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