Form 4: Valley National Bancorp Executive Acquires and Disposes of Shares Following Performance Stock Unit Payout
SEC Form 4 Filing
Joseph Chillura, SEVP and CML Banking President at Valley National Bancorp, reports acquisition and disposal of common stock related to the payout of performance stock units.
Summary
- On February 18, 2025, Joseph Chillura, SEVP, CML Banking President of Valley National Bancorp, acquired 18,224 shares of common stock due to the payout of performance stock units granted in early 2022.
- On the same day, Chillura disposed of 4,313 shares of common stock at a price of $9.96 to satisfy tax withholding obligations related to the performance stock unit payout.
- Following these transactions, Chillura beneficially owns 468,254 shares of Valley National Bancorp common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it reflects standard executive compensation practices and regulatory filings.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the vesting of previously granted equity compensation.
Key Dates
| Date | Description |
|---|---|
| Early 2022 | Date of grant for the performance stock units that vested on 02/18/2025 |
| 02/18/2025 | Date of transaction: acquisition and disposal of shares. |
| 02/20/2025 | Date of signature on the Form 4 filing. |
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