Form 4: Univest Financial Corp Executive Jeffrey Schweitzer Exercises Options and Sells Shares
SEC Form 4 Filing
Jeffrey Schweitzer, Chairman, President & CEO of Univest Financial Corp, exercised stock options and sold shares on August 26, 2024.
Summary
- On August 26, 2024, Jeffrey M. Schweitzer, Chairman, President & CEO of Univest Financial Corp, executed multiple transactions involving the company's common stock.
- Schweitzer exercised stock options to acquire 2,773 shares at a price of $19.68 per share.
- He then sold 2,258 shares at $28.56 per share and 515 shares at a weighted average price of $28.5737 per share, with prices ranging from $28.52 to $28.61.
- Following these transactions, Schweitzer beneficially owns 90,187.1043 shares of Univest Financial Corp common stock.
- This total includes 10,090.1043 shares acquired through the dividend reinvestment plan.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard disclosure of insider trading activity. The transactions themselves don't necessarily indicate a positive or negative outlook for the company.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to the market regarding the actions of company executives. It's common for executives to exercise stock options and sell a portion of the acquired shares for personal financial management.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of shares outstanding.
Key Dates
| Date | Description |
|---|---|
| 01/31/2017 | Grant date of stock options, exercisable at 33.3% per year for three years commencing with the exercisable date. |
| 08/26/2024 | Date of transaction: Exercise of stock options and sale of shares. |
| 08/28/2024 | Date of signature on the Form 4 filing. |
| 01/31/2026 | Expiration date of stock options. |
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