Form 4: Sterling Bancorp CEO Thomas O'Brien Reports Stock Transactions

Sterling Bancorp's CEO, Thomas O'Brien, reported the withholding of 37,601 shares for tax obligations and an estimated 5,669 shares held indirectly through a 401(k) plan.

Summary

• Thomas O'Brien, CEO of Sterling Bancorp, reported a transaction involving the company's common stock.
• On January 2, 2025, 37,601 shares were withheld to cover tax obligations related to the vesting of restricted stock.
• These shares were withheld at a price of $4.76 per share.
• Mr. O'Brien also has an estimated 5,669 shares held indirectly through a 401(k) plan.
• The 401(k) share estimate is based on holdings as of September 30, 2024, and may fluctuate due to fund activity and fees.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not contain any information that would indicate positive or negative sentiment. It is a neutral disclosure of insider transactions.

Risks

• The number of shares held in the 401(k) plan is an estimate and can change due to market fluctuations, cash within the fund, and administrative fees.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders reporting transactions in their company's stock. It is a routine disclosure and does not indicate any unusual activity.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• The reported transactions are typical for executives who receive stock-based compensation and have tax obligations upon vesting.
• The 401(k) holdings are also a common form of indirect ownership for employees.

Stakeholder Impact

• The transactions reported in this filing are unlikely to have a significant impact on stakeholders as they are routine and expected.

Key Dates

Keywords

Sterling Bancorp, Thomas O'Brien, stock transaction, Form 4, insider trading, tax withholding, 401k, equity