Form 4: Washington Trust Bancorp Executive Dennis L. Algiere Reports Stock Transactions
SEC Form 4
EVP Dennis L. Algiere of Washington Trust Bancorp reports acquisition of 1,436 shares and disposition of 723 shares of common stock on April 22, 2024.
Summary
- On April 22, 2024, Dennis L. Algiere, an Executive Vice President and Chief Compliance Officer/Director of Community Affairs at Washington Trust Bancorp, acquired 1,436 shares of common stock.
- On the same day, Algiere disposed of 723 shares of common stock at a price of $25.75 per share.
- Following these transactions, Algiere directly owns 14,181 shares of Washington Trust Bancorp common stock.
- Algiere also holds options to purchase shares of common stock at various exercise prices and expiration dates.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's future prospects.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It allows investors to monitor the actions of company executives and their potential impact on the stock.
Comparison to Industry Standards
- Form 4 filings are standard practice across all publicly traded companies in the United States.
- Comparable companies like People's United Financial (PBCT) and Bank of Rhode Island (BKRI) also have executives who regularly file Form 4s to report their transactions.
- The information disclosed in these forms is used by investors to gauge executive sentiment and potential future performance.
Stakeholder Impact
- Shareholders may use this information to assess the confidence of company leadership in the stock.
- The transactions themselves have a minimal direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 10/18/2019 | Date of exercisable stock options with an expiration date of 10/18/2026 and an exercise price of $40.25. |
| 10/17/2020 | Date of exercisable stock options with an expiration date of 10/17/2027 and an exercise price of $58.05. |
| 10/16/2021 | Date of exercisable stock options with an expiration date of 10/16/2028 and an exercise price of $54.74. |
| 10/17/2022 | Date of exercisable stock options with an expiration date of 10/17/2029 and an exercise price of $48.65. |
| 04/22/2024 | Date of stock acquisition and disposition. |
| 04/23/2024 | Date of signature for the report. |
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