Form 4: Sterling Bancorp CEO Thomas O'Brien Reports Stock Transactions
SEC Form 4 Filing
CEO Thomas O'Brien reports the withholding of 43,883 shares for tax obligations and holdings of 4,788 shares in a 401(k) plan.
Summary
- On July 2, 2024, Thomas M. O'Brien, CEO of Sterling Bancorp, Inc., reported a transaction involving the company's common stock.
- 43,883 shares were withheld to cover tax obligations related to the vesting of restricted stock at a price of $5.23 per share.
- O'Brien also reported holding 4,788 shares indirectly through the Sterling Bank & Trust 401(k) Plan.
- Following these transactions, O'Brien directly owns 586,934 shares of Sterling Bancorp, Inc.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports routine transactions without indicating positive or negative performance.
Industry Context
Form 4 filings are standard practice for reporting insider transactions and are required by the SEC to provide transparency to investors.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in the CEO's holdings.
Key Dates
| Date | Description |
|---|---|
| 07/02/2024 | Date of stock transaction (tax withholding). |
| 07/03/2024 | Date of signature on the Form 4 filing. |
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