Form 4: SBCF EVP & CRO Forlenza Reports Stock Transactions
Insider Transaction Report
Seacoast Banking Corp of Florida's EVP & CRO, Joseph M. Forlenza, reported the acquisition of 7,736 shares from performance-based units and dispositions of other restricted stock awards.
Summary
- Joseph M. Forlenza, EVP & CRO of Seacoast Banking Corp of Florida (SBCF), reported transactions on February 10, 2026.
- Acquired 7,736 shares of common stock at $0, representing performance-based restricted stock units (PSUs) granted on April 1, 2023, for which performance requirements were attained by December 31, 2025. These shares are scheduled to vest on December 31, 2026, subject to continuous service.
- Disposed of 1,529 shares of common stock related to an unvested time-based restricted stock award granted on April 1, 2023.
- Disposed of 9,498 shares of common stock related to an unvested time-based restricted stock award granted on April 1, 2024.
- Disposed of 4,166 shares of common stock related to an unvested time-based restricted stock award granted on April 1, 2025.
- Following these transactions, Joseph M. Forlenza directly beneficially owns 42,392 shares of common stock.
- Holds 12,635 derivative securities in the form of stock options, granted on April 2, 2018, with an exercise price of $31.15 and an expiration date of April 1, 2028. These options vest over three years in one-third increments annually from the grant date, subject to continued employment.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a routine insider transaction filing, reflecting executive compensation and vesting schedules without indicating significant positive or negative company-specific news. The dispositions of unvested awards are noted but lack specific context for their nature.
Positives
- Joseph M. Forlenza acquired 7,736 shares of common stock from performance-based restricted stock units (PSUs) at a price of $0, indicating the successful attainment of performance requirements over the period ending December 31, 2025.
Negatives
- Joseph M. Forlenza disposed of a total of 15,193 shares of common stock, comprising 1,529 shares related to an April 1, 2023 unvested restricted stock award, 9,498 shares related to an April 1, 2024 unvested restricted stock award, and 4,166 shares related to an April 1, 2025 unvested restricted stock award. The specific reason for these dispositions (e.g., forfeiture, tax withholding) is not detailed in the filing.
Future Outlook
The acquired performance-based restricted stock units are scheduled to vest on December 31, 2026, contingent on continuous employment. Other unvested time-based restricted stock awards have future vesting increments on their respective anniversaries, subject to continued employment. Stock options are exercisable until April 1, 2028.
Industry Context
StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions and do not typically provide broader industry insights. This filing reflects routine executive compensation practices within the financial services sector, specifically related to equity awards.
Stakeholder Impact
- Shareholders gain transparency regarding executive equity holdings and compensation, which is a standard aspect of corporate governance.
- Employees (specifically Joseph M. Forlenza) are impacted by the vesting and disposition of equity awards as part of their compensation structure.
Next Steps
- Vesting of 7,736 PSU shares on December 31, 2026, subject to continuous service.
- Continued vesting of various time-based restricted stock awards on their respective anniversaries.
- Stock options remain exercisable until April 1, 2028.
Key Dates
| Date | Description |
|---|---|
| 04/02/2018 | Grant date for stock options (12,635 shares underlying) which vest over 3 years in one-third increments annually. |
| 04/01/2023 | Grant date for performance-based restricted stock units (PSUs) (7,736 shares) and an unvested time-based restricted stock award (1,529 shares). |
| 04/01/2024 | Grant date for an unvested time-based restricted stock award (9,498 shares). First vesting increment for the April 1, 2023 restricted stock award. |
| 04/01/2025 | Grant date for an unvested time-based restricted stock award (4,166 shares). First vesting increment for the April 1, 2024 restricted stock award. |
| 12/31/2025 | End of the performance period for the PSUs granted on April 1, 2023. |
| 02/10/2026 | Transaction date for the reported acquisitions and dispositions. The Company's Compensation and Governance Committee certified the number of shares attained based on PSU performance criteria. |
| 04/01/2026 | First vesting increment for the April 1, 2025 restricted stock award. |
| 12/31/2026 | Vesting date for the 7,736 PSU shares, subject to continuous service. |
| 04/01/2028 | Expiration date for the stock options granted on April 2, 2018. |
| 02/11/2026 | Signature date of the reporting person's Power of Attorney. |
Keywords
Seacoast Banking Corp of Florida, SBCF, Joseph M. Forlenza, Insider Trading, Form 4, Stock Options, Restricted Stock Units, Executive Compensation, Beneficial Ownership
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