Form 4: WSFS Financial Corp Executive Vice President Arthur J. Bacci Reports Share Transactions
SEC Form 4
Arthur J. Bacci, Executive Vice President of WSFS Financial Corp, reports acquisition and disposal of common stock and performance-based restricted share units (PSUs) on February 27, 2025.
Summary
- On February 27, 2025, Arthur J. Bacci, Executive Vice President of WSFS Financial Corporation, reported transactions involving WSFS common stock.
- Bacci acquired 3,219 shares of common stock at $53.49 per share.
- He also acquired 5,385 shares related to performance-based restricted share units (PSUs) at $53.49 per share, based on achieving a 78% performance level for the three-year period ending December 31, 2024.
- Additionally, 2,435 shares were disposed of at $53.49 per share to cover taxes due on vested PSUs.
- Following these transactions, Bacci directly owns 28,484 shares and indirectly owns 3,587 shares through a 401k.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it simply reports transactions. The acquisition of shares could be seen as slightly positive, but the disposal for tax purposes is neutral.
Positives
- The reporting person acquired shares indicating confidence in the company.
Negatives
- The reporting person disposed of shares to cover taxes.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for corporate insiders and are required by the SEC.
- The transactions reported are typical for executives who receive stock-based compensation.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by providing insight into executive sentiment regarding the company's stock.
Key Dates
| Date | Description |
|---|---|
| 02/24/2022 | Date of issuance of performance-based restricted share units (PSUs). |
| 12/31/2024 | End of the three-year performance period for the PSUs. |
| 02/27/2025 | Date of the reported transactions (acquisition and disposal of shares). |
| 03/03/2025 | Date of signature on the Form 4 filing. |
| 04/15/2026 | First vesting date of the 3 year vest (33% increments). |
| 04/15/2028 | Final vesting date of the 3 year vest (33% increments). |
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