Form 4: Seacoast Banking Corp Director Dennis S. Hudson III Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Dennis S. Hudson III reports changes in beneficial ownership of Seacoast Banking Corp of Florida stock due to the vesting of restricted stock awards and tax withholding.
Summary
- On April 1, 2024, Director Dennis S. Hudson III had shares withheld to cover taxes on vesting restricted stock awards.
- The transactions involved common stock and rights to buy common stock.
- Hudson directly owns 250,312 shares and indirectly owns 51,416 shares held by spouse in trust and 21,867 shares held by Sherwood Partners, Ltd, family partnership.
- He also holds rights to buy 55,279 shares at $31.15, exercisable from April 2, 2028, and 78,021 shares at $28.69, exercisable from April 3, 2027.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. It doesn't convey any particularly positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for corporate executives and directors. It provides transparency into their holdings and transactions in the company's stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the director's holdings and transactions.
Key Dates
| Date | Description |
|---|---|
| 04/01/2021 | Date of grant for an unvested time-based restricted stock award that vests over 3 years in one-third increments, beginning April 1, 2022. |
| 04/01/2022 | Date of grant for an unvested time-based restricted stock award that vests over 3 years in one-third increments, beginning April 1, 2023. |
| 04/01/2024 | Transaction date for the disposal of shares due to tax withholding on vesting restricted stock awards. |
| 03/31/2024 | Date of shares held in the Company's Retirement Savings Plan. |
| 04/02/2028 | Date from which rights to buy 55,279 shares at $31.15 become exercisable. |
| 04/03/2027 | Date from which rights to buy 78,021 shares at $28.69 become exercisable. |
| 04/12/2024 | Date of signature for the report. |
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