Form 4: Territorial Bancorp Inc. Executive Nakatsuka Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Ralph Y. Nakatsuka, Vice Chairman & Co-COO of Territorial Bancorp Inc., disposed of 599 shares of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- On April 3, 2024, Ralph Y. Nakatsuka, Vice Chairman & Co-COO of Territorial Bancorp Inc. (TBNK), disposed of 599 shares of common stock at a price of $7.83 per share.
- This transaction was executed to satisfy tax obligations related to the vesting of restricted stock units.
- Following the transaction, Nakatsuka directly owns 164,123 shares of common stock, which includes restricted stock units vesting annually.
- Nakatsuka also indirectly owns 17,742 shares through an ESOP.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports a routine transaction related to tax obligations. It doesn't indicate any strategic shift or concern about the company's performance.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a routine disposal of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/05/2022 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| 04/04/2023 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| 04/03/2024 | Date of the transaction where 599 shares of common stock were disposed of. |
| 04/03/2024 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| 04/04/2024 | Date of signature for the Form 4 filing. |
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