Form 4: SR Bancorp VP and CFO, Harris M Faqueri, Reports Stock and Option Awards

Harris M Faqueri, VP and CFO of SR Bancorp, Inc., reported the acquisition of 15,213 shares of common stock and 38,032 stock options on January 29, 2025.

Summary

• Harris M Faqueri, the VP and CFO of SR Bancorp, Inc., filed a Form 4 disclosing changes in beneficial ownership.
• On January 29, 2025, Mr. Faqueri acquired 15,213 shares of common stock at a price of $0.
• These shares are restricted and will vest at a rate of 20% per year starting January 29, 2026.
• Mr. Faqueri also acquired 38,032 stock options with an exercise price of $12.50.
• These options vest at a rate of 20% per year commencing on January 29, 2026, and expire on January 29, 2035.
• The filing also indicates that Mr. Faqueri beneficially owns 10,000 shares of common stock indirectly through an IRA and 832 shares indirectly through an ESOP.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, which is generally viewed positively as it aligns management interests with shareholders. There are no negative aspects to the document.

Positives

• The grant of restricted stock and stock options to the CFO aligns his interests with the long-term performance of the company.
• The vesting schedule encourages the CFO's continued service and contribution to the company's success.

Future Outlook

The vesting schedule for the stock and options indicates a long-term incentive plan for the CFO.

Industry Context

This type of stock and option grant is a common practice in corporate America to incentivize and retain key executives.

Comparison to Industry Standards

• Stock option and restricted stock grants are standard compensation practices for executives in the financial services industry.
• Vesting schedules of 20% per year are typical for these types of awards, aligning executive compensation with long-term company performance.
• Companies like JP Morgan Chase, Bank of America, and Wells Fargo also use similar equity-based compensation plans for their executives.

Stakeholder Impact

• Shareholders may view the stock and option grants positively as they align the CFO's interests with the company's long-term success.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Options, Restricted Stock, SR Bancorp, Executive Compensation, Harris M Faqueri, CFO