Community West Bancshares (CWBC) EVP reports 603-share tax withholding on RSU vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Community West Bancshares Executive Vice President Jeffrey Michael Martin reported a routine tax-related share withholding. On the vesting of 1,679 restricted shares from a Restricted Stock Award granted May 17, 2023, 603 shares of common stock were withheld to satisfy tax withholding obligations. After this non-market disposition, he holds 23,197.8163 shares directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
MARTIN JEFFREY MICHAEL
Role
EXECUTIVE VICE PRESIDENT
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | CWBC - Common Stock | 603 | $23.20 | $14K |
Holdings After Transaction:
CWBC - Common Stock — 23,197.816 shares (Direct, null)
Footnotes (1)
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Key Figures
Shares withheld for taxes: 603 shares
Restricted shares vested: 1,679 shares
Holding after transaction: 23,197.8163 shares
+1 more
4 metrics
Shares withheld for taxes
603 shares
Tax-withholding disposition on CWBC common stock
Restricted shares vested
1,679 shares
Vesting from Restricted Stock Award granted May 17, 2023
Holding after transaction
23,197.8163 shares
Common stock directly owned after tax withholding
Reference share value
$23.20 per share
Price per share used in tax-withholding entry
Key Terms
Restricted Stock Award, tax withholding obligations, vesting
3 terms
Restricted Stock Award financial
"in connection with the vesting of 1,679 restricted shares from a Restricted Stock Award granted May 17, 2023"
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
tax withholding obligations financial
"shares withheld by Community West Bancshares to satisfy tax withholding obligations in connection with the vesting"
vesting financial
"to satisfy tax withholding obligations in connection with the vesting of 1,679 restricted shares"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
What insider transaction did CWBC executive Jeffrey Michael Martin report?
Jeffrey Michael Martin reported a tax-related disposition of shares. Community West Bancshares withheld 603 common shares to cover tax obligations when 1,679 restricted shares vested from a prior Restricted Stock Award, rather than selling shares on the open market.