Form 4: Sandy Spring Bancorp Executive Vice President Reports Changes in Beneficial Ownership
SEC Form 4
Executive Vice President Joseph J. O'Brien Jr. reports changes in his beneficial ownership of Sandy Spring Bancorp stock, including the vesting of restricted stock units and shares withheld for tax obligations.
Summary
- On March 12, 2025, Joseph J. O'Brien Jr., an Executive Vice President at Sandy Spring Bancorp, reported changes in his beneficial ownership of the company's stock.
- These changes include the acquisition of 2,791 shares of common stock related to the vesting of restricted stock units granted on March 16, 2022, based on performance criteria achieved from January 1, 2022, through December 31, 2024.
- Additionally, 841 shares were disposed of to cover tax obligations related to the vesting of restricted stock at a price of $28.59 per share.
- Following these transactions, O'Brien directly owns 70,541.6997 shares of Sandy Spring Bancorp common stock.
- The report also details various restricted stock units and shares that will vest at future dates.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices, and does not inherently indicate positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the trading activities of company insiders. This filing indicates standard compensation practices involving stock-based awards.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 2022-01-01 | Start date for performance criteria related to restricted stock units. |
| 2022-03-16 | Date restricted stock units were granted. |
| 2024-12-26 | Date restricted stock was granted under the 2024 Equity Plan. |
| 2024-12-31 | End date for performance criteria related to restricted stock units. |
| 2025-03-12 | Date of the reported transaction. |
| 2025-03-14 | Date of signature on the form. |
| 2025-04-01 | First vesting date for some restricted stock units. |
| 2025-12-31 | Vesting date for restricted stock granted on December 26, 2024. |
| 2026-04-01 | Second vesting date for some restricted stock units. |
| 2026-12-31 | Vesting date for restricted stock granted on December 26, 2024. |
| 2027-04-01 | Third vesting date for some restricted stock units. |
| 2028-04-01 | Final vesting date for some restricted stock units. |
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