Form 4: SBCF EVP & CRO Forlenza Reports Stock Transactions

Joseph M. Forlenza, EVP & CRO of Seacoast Banking Corp of Florida, reported the disposition of shares for tax obligations and details on unvested stock awards and options.

Summary

• Joseph M. Forlenza, Executive Vice President & Chief Risk Officer (EVP & CRO) of Seacoast Banking Corp of Florida (SBCF), reported transactions related to his beneficial ownership of company securities.
• On December 31, 2025, 771 shares of common stock were disposed of at a price of $31.42 per share to cover tax withholding obligations for vested performance-based restricted stock units (PSUs).
• Following this transaction, Mr. Forlenza directly beneficially owns 34,656 shares of common stock.
• He also holds 1,529 unvested time-based restricted stock awards granted on April 1, 2023, which vest over three years in one-third increments starting April 2, 2024.
• Additionally, he holds 9,498 unvested time-based restricted stock awards granted on April 1, 2024, vesting over three years in one-third increments starting April 1, 2025.
• A further 4,166 unvested time-based restricted stock awards were granted on April 1, 2025, vesting over three years in one-third increments starting April 1, 2026.
• Mr. Forlenza holds a derivative security in the form of a 'Right to Buy' 12,635 shares of common stock (stock option) with an exercise price of $31.15, granted on April 2, 2018, and expiring on April 2, 2028. This option vests over three years in one-third increments annually from the grant date.

Sentiment

Score: 5

Explanation: The filing is a routine report of insider transactions related to executive compensation, indicating neither overtly positive nor negative operational or financial news for the company.

Positives

• Continued significant equity ownership by a key executive (EVP & CRO) aligns management interests with shareholders.
• The vesting schedules for restricted stock awards and stock options provide long-term incentives for executive performance and retention.

Negatives

• The disposition of 771 shares, while for tax obligations, represents a reduction in direct beneficial ownership.

Future Outlook

The executive's future equity accumulation is tied to the vesting schedules of several restricted stock awards and stock options, with vesting events scheduled annually through at least April 2026, subject to continued employment.

Industry Context

This filing reflects standard executive compensation practices within the banking industry, where equity awards like restricted stock units and stock options are commonly used to incentivize and retain key management personnel, aligning their interests with long-term shareholder value.

Corporate Governance

Stakeholder Impact

• Shareholders: The executive's continued equity ownership and future vesting schedules align his interests with long-term shareholder value creation.
• Employees: The compensation structure, including equity awards, can serve as a model for other employees and contribute to overall employee retention strategies.

Next Steps

• Continued vesting of unvested time-based restricted stock awards on their respective anniversary dates.
• Potential exercise of stock options prior to their expiration date of April 2, 2028.

Key Dates

Keywords

Seacoast Banking Corp of Florida, SBCF, Insider Trading, Executive Compensation, Form 4, Stock Options, Restricted Stock Units, Joseph M. Forlenza, EVP & CRO