Form 4: Stellar Bancorp Executive Justin M. Long Reports Stock Transaction

Justin M. Long, SEVP, GC & Secretary of Stellar Bancorp, Inc., reports the withholding of 1,391 shares to cover tax liabilities related to vesting restricted shares on October 1, 2024, resulting in a beneficial ownership of 52,141 shares.

Summary

• On October 1, 2024, Justin M. Long, SEVP, GC & Secretary of Stellar Bancorp, Inc. had 1,391 shares of common stock withheld to cover tax liabilities.
• This transaction occurred due to the vesting of restricted shares of common stock previously reported.
• The price per share for the tax withholding was $24.89.
• Following this transaction, Long's beneficial ownership of Stellar Bancorp, Inc. common stock is 52,141 shares.

Sentiment

Score: 5

Explanation: This is a neutral report of a routine transaction. It doesn't indicate positive or negative sentiment about the company's performance.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in company stock. It is a standard practice for executives to have shares withheld to cover tax obligations when restricted stock vests.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.

Key Dates