Restricted stock grant boosts First Northern (FNRN) CEO’s stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Smith Jeremiah Zachary reported acquisition or exercise transactions in this Form 4 filing.
FIRST NORTHERN COMMUNITY BANCORP President and CEO Jeremiah Zachary Smith received a grant of 13,319 shares of common stock. The shares were awarded at a price of $13.64 per share and increase his directly held stake to 153,836 shares after the transaction.
According to a footnote, this is a restricted stock award that will vest on a four-year cliff schedule or upon his retirement, whichever happens first. This filing records an equity compensation award rather than an open-market purchase.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Smith Jeremiah Zachary
Role
President/CEO/Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 13,319 | $13.64 | $182K |
Holdings After Transaction:
Common Stock — 153,836 shares (Direct)
Footnotes (1)
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FAQ
What did FIRST NORTHERN COMMUNITY BANCORP (FNRN) disclose about Jeremiah Zachary Smith in this Form 4?
The filing shows President and CEO Jeremiah Zachary Smith received a grant of 13,319 shares of common stock. This equity award was reported as an acquisition, increasing his directly held position to 153,836 shares following the transaction, and reflects stock-based compensation rather than a market trade.
What type of transaction is reported in the FNRN Form 4 for Jeremiah Zachary Smith?
The Form 4 reports a grant, award, or other acquisition of common stock to Jeremiah Zachary Smith. It is classified as an acquisition transaction, identified by code A, and represents a restricted stock award rather than a discretionary buy or sell on the open market.
What are the vesting terms of Jeremiah Zachary Smith’s restricted stock award from FNRN?
The restricted stock award to Jeremiah Zachary Smith has four-year cliff vesting or vests upon retirement, whichever happens first. This means the entire award becomes available at once after four years of service or on his retirement date, according to the footnote description provided.