ECB Bancorp (ECBK) director exercises 5,832 options, updates holdings

Rhea-AI Filing Summary

ECB Bancorp director Joseph Sachetta exercised stock options to acquire 5,832 shares of Common Stock at $11.80 per share on December 18, 2024. Following the transaction, he holds 17,496 common shares directly, 35,000 shares through an IRA, and 15,000 shares through his spouse’s Roth IRA. The options and related restricted stock vest at 20% per year beginning September 8, 2024.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sachetta Joseph

(Last) (First) (Middle)

419 BROADWAY

(Street)

EVERETT MASSACHUSETTS 02149

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ECB Bancorp, Inc. /MD/ [ ECBK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
12/18/2024

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
12/20/2024

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/18/2024		M		5,832	A	$11.8	17,496(1)	D
Common Stock								35,000	I	By IRA
Common Stock								15,000	I	By Spouse's Roth IRA

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options	$11.8	12/18/2024		M			5,832(2)	09/08/2024	09/08/2033	Common Stock	5,832(2)	$0	23,328(2)	D

Explanation of Responses:

1. Includes shares of restricted stock which vest at a rate of 20% per year commencing on September 8, 2024.

2. Stock option vest at a rate of 20% per year commencing on September 8, 2024.

	/s/ Steven Lanter, pursuant to power of attorney	03/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What does ECBK director Joseph Sachetta’s latest Form 4/A report?

The Form 4/A shows director Joseph Sachetta exercised stock options for 5,832 ECB Bancorp shares on December 18, 2024. The transaction reflects a derivative exercise, not an open-market purchase or sale, and updates his direct and indirect common stock holdings.

How many ECBK shares did Joseph Sachetta acquire and at what price?

Joseph Sachetta exercised stock options covering 5,832 shares of ECB Bancorp Common Stock at $11.80 per share. This option exercise converted a derivative position into directly held shares and did not involve an open-market buy or sell transaction.

What are Joseph Sachetta’s direct ECBK share holdings after the transaction?

After exercising options, Joseph Sachetta holds 17,496 ECB Bancorp Common Stock shares directly. This figure reflects his updated direct ownership position as of the December 18, 2024 transaction date reported in the Form 4/A filing.

What indirect ECBK holdings are reported for Joseph Sachetta?

The filing reports 35,000 ECB Bancorp Common Stock shares held indirectly through an IRA and 15,000 shares held through his spouse’s Roth IRA. These positions are classified as indirect ownership and are separate from his directly held shares.

How do Joseph Sachetta’s ECBK stock options and restricted stock vest?

The filing notes that certain restricted stock and stock options vest at 20% per year starting September 8, 2024. This means the awards become exercisable or free of restrictions gradually over five years from that commencement date.

Did Joseph Sachetta sell any ECBK shares in this Form 4/A?

No sales are reported. The Form 4/A shows an exercise of stock options to acquire 5,832 shares, with no coded sale transactions. It updates direct and indirect holdings but does not disclose any open-market dispositions.