[SCHEDULE 13G/A] Glen Burnie Bancorp SEC Filing
AllianceBernstein L.P. reports beneficial ownership of 198,858 shares of Glen Burnie Bancorp common stock, representing 6.9% of the class. The filer indicates it holds sole voting and sole dispositive power over these shares and that they were acquired solely for investment purposes on behalf of client discretionary accounts.
The filing identifies AllianceBernstein as an investment adviser organized in Delaware and notes it is a majority-owned subsidiary of Equitable Holdings, Inc. while operating under independent management; Equitable Holdings reports its ownership separately. The statement affirms the position was not acquired to change or influence control of the issuer.
- Institutional stake of 198,858 shares (6.9% of class)
- Sole voting and sole dispositive power over the reported shares
- Shares reported as held for client discretionary accounts, indicating standard investment purpose
- Filer certifies the shares were not acquired to change or influence control
- No shared voting power or group affiliation disclosed, limiting potential coordinated influence
Insights
TL;DR: AllianceBernstein holds a meaningful 6.9% stake (198,858 shares) with sole voting and dispositive power, held for client accounts.
From a market lens, a disclosed >5% institutional stake is material because it signals significant investor interest. The filing clarifies the position is held in discretionary client accounts and was not acquired to affect control, which reduces the likelihood of immediate activist activity. The sole voting and dispositive power means AllianceBernstein can vote and trade these shares, which could influence liquidity if they materially reallocate holdings, but no transaction plans are stated in the filing.
TL;DR: A 6.9% single-filer holding gives governance visibility but the filer disclaims any intent to influence control; coordination or group action is not reported.
This filing shows sole voting authority without any shared or group arrangements disclosed, limiting indications of coordinated engagement or a control contest. The disclosure that AllianceBernstein operates under independent management, despite being majority-owned by Equitable Holdings, and that Equitable reports separately, clarifies reporting lines for governance assessments. Absent additional filings or statements of intent, governance impact is neutral based on the facts presented.