Form 4: Western New England Bancorp Executive Acquires and Disposes of Shares to Cover Tax Obligations

Allen J. Miles III, an EVP & Senior Lender at Western New England Bancorp, Inc., reports acquiring shares through a long-term incentive plan and disposing of shares to cover tax obligations.

Summary

• On March 5, 2024, Allen J. Miles III, EVP & Senior Lender at Western New England Bancorp, Inc., acquired 5,252 shares of common stock at $8.29 per share through the company's 2021 Long-Term Incentive Plan.
• On the same day, Miles disposed of 1,561 shares at $8.29 per share to satisfy tax withholding obligations related to the stock award.
• Following these transactions, Miles directly owns 27,966 shares of common stock.
• Miles also indirectly owns 34,019 shares through an ESOP and 22,108 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.

Positives

• The acquisition of shares through the long-term incentive plan suggests that the company met certain performance goals over a three-year period.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders trade their company's stock. They provide transparency into the transactions of individuals with access to non-public information.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine compensation and tax-related activities.

Key Dates