Berkshire Hills Bancorp Insider Filing: 5,902 Restricted Shares Vest
Rhea-AI Filing Summary
Prescott Wm Gordon reported receipt of 5,902 shares of common stock that were transferred to him on August 29, 2025, at no cash price as vested restricted stock. After the transfers, he beneficially owns 28,584 shares directly. The 5,902 shares reflect vesting of two prior restricted stock grants: 2,668 shares granted January 30, 2023, and 3,234 shares granted January 30, 2024, each subject to three-year cliff vesting and performance criteria and both vested at 100% of target. The filing also shows indirect holdings: 2,644 shares held in a 401(k) and 1,310 shares held in an IRA. The form was signed by an attorney-in-fact on September 3, 2025.
Positive
- 5,902 restricted shares vested and were transferred, reflecting performance at 100% of target
- Direct beneficial ownership increased to 28,584 shares, aligning the reporting person with shareholder interests
- Vesting followed plan terms under the 2022 Equity Compensation Plan, demonstrating predictable compensation governance
Negative
- None.
Insights
TL;DR: Routine executive restricted stock vesting increased the insider's direct holdings by 5,902 shares, a non-cash compensation event.
The filing documents the transfer of 5,902 shares to the reporting person from performance-based restricted stock grants that vested at target. This is compensation-related equity conversion, not an open-market purchase or sale, and thus has no immediate cash flow impact for the issuer. The increase in direct ownership to 28,584 shares marginally strengthens insider alignment with shareholders but does not, on its own, indicate a material change to ownership concentration.
TL;DR: Vesting of performance-restricted awards is a routine governance outcome reflecting plan terms and achieved targets.
The notes clarify the shares vested per the 2022 Equity Compensation Plan and were transferred after meeting performance criteria. Such disclosures satisfy Section 16 reporting and provide transparency on executive compensation outcomes. No departures, option exercises, or related-party transactions are disclosed; the activity is consistent with standard equity incentive governance practices.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 5,902 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Stock Awards granted pursuant to the Berkshire Hills Bancorp, Inc. 2022 Equity Compensation Plan vest in three equal annual installments beginning on January 30, 2024. Stock Awards granted pursuant to the Berkshire Hills Bancorp, Inc. 2022 Equity Compensation Plan vest in three equal annual installments beginning on January 30, 2025. Since the reporting person's last report, 593 shares previously held through Stock Award VIII and 1,438 shares previously held through Stock Award IX have vested and are now owned directly. On January 30, 2023 the reporting person was granted 2,668 shares of restricted stock subject to a three-year cliff vesting schedule and subject to the satisfaction of certain performance criteria. The shares vested at 100% of target, resulting in the vesting of 2,668 shares of restricted stock, and were transferred to the executive on August 29, 2025. On January 30, 2024 the reporting person was granted 3,234 shares of restricted stock subject to a three-year cliff vesting schedule and subject to the satisfaction of certain performance criteria. The shares vested at 100% of target, resulting in the vesting of 3,234 shares of restricted stock, and were transferred to the executive on August 29, 2025. Reflects transactions not required to be reported pursuant to Section 16 of the Securities Exchange Act of 1934, as amended.
