EVP Lindenmuth reports vesting of 6,992 shares and disposal of 2,759 shares
Rhea-AI Filing Summary
Gregory D. Lindenmuth, EVP and Chief Risk Officer, reported insider transactions in Beacon Financial Corp (ticker shown as BBT). On 08/29/2025 restricted awards vested and 6,992 shares were transferred to him at no cash price, bringing his direct holdings to 26,136 shares. On the same date he sold 2,759 shares at $26.13, leaving 23,377 shares owned directly. The filing notes prior vesting of 703 and 1,703 shares from earlier awards and reports 13,433 shares held indirectly via a 401(k). The Form 4 was signed by power of attorney on 09/03/2025.
Positive
- 6,992 shares were transferred to the reporting person due to restricted stock vesting at 100% of target, increasing direct ownership.
- The reporting person retains a meaningful ownership stake with 23,377 shares after the reported sale and an additional 13,433 shares held indirectly via 401(k).
Negative
- The reporting person sold 2,759 shares at $26.13, reducing direct holdings from 26,136 to 23,377 shares.
Insights
TL;DR: Insider received vested restricted shares and executed a small sale the same day, leaving substantial direct holdings.
The report documents customary equity compensation vesting and a contemporaneous sale. The 6,992 shares transferred at $0 reflect vesting of previously granted restricted stock that met performance conditions. The sale of 2,759 shares at $26.13 is modest relative to total direct holdings of 23,377 after the sale. These transactions are typical of executives monetizing a portion of vested equity while retaining a meaningful ownership stake.
TL;DR: Transactions appear routine for compensation vesting and limited disposition; no governance red flags in the filing.
The Form 4 discloses performance-based restricted stock vesting at 100% of target and transfer to the reporting person, consistent with disclosed equity plans. The filing shows prior smaller vesting events and a 401(k) indirect position of 13,433 shares. The signature by power of attorney is properly noted. There is no indication here of policy breaches or unexplained transfers.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 6,992 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,759 | $26.13 | $72K |
| 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, 703 shares previously held through Stock Award VII and 1,703 shares previously held through Stock Award VIII have vested and are now owned directly. On January 30, 2023 the reporting person was granted 3,162 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 3,162 shares of restricted stock, and were transferred to the executive on August 29, 2025. On January 30, 2024 the reporting person was granted 3,830 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 3,830 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.
