Form 4: Sterling Bancorp Chief Risk Officer Reports Stock Transactions
SEC Form 4 Filing
Eleni Willis, Chief Risk Officer of Sterling Bancorp, Inc., reported the withholding of shares for tax obligations and an estimate of shares held in a 401(k) plan.
Summary
- Eleni Willis, the Chief Risk Officer of Sterling Bancorp, Inc., filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
- On November 15, 2024, 384 shares of common stock were withheld to cover tax obligations related to the vesting of restricted stock.
- Following this transaction, Ms. Willis directly owns 65,078 shares of Sterling Bancorp stock.
- Additionally, she has an estimated 2,093 shares held indirectly through a 401(k) plan as of September 30, 2024.
- The number of shares held in the 401(k) plan is an estimate 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 be considered positive or negative from an investment perspective.
Risks
- The number of shares held in the 401(k) plan is an estimate and may fluctuate due to fund activity and fees, which could impact the total value of holdings.
Industry Context
This is a routine filing related to insider trading activity and is common for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the United States, and this filing is consistent with those requirements.
- The transaction is a common occurrence where shares are withheld to cover tax obligations related to vesting stock options or restricted stock units, which is a standard practice across the industry.
- The reporting of estimated shares held in a 401(k) plan is also a common practice for executives and employees of publicly traded companies.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine tax withholding event.
Key Dates
| Date | Description |
|---|---|
| 09/30/2024 | Date used for the estimate of shares held in the 401(k) plan. |
| 11/15/2024 | Date of the stock transaction where shares were withheld for tax obligations. |
| 11/19/2024 | Date the Form 4 was signed. |
Keywords
Form 4, Sterling Bancorp, stock transaction, beneficial ownership, Eleni Willis, Chief Risk Officer, tax withholding, 401(k), SBT
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