MCB insider filing: power of attorney relinquished; RSUs vest Jan 27, 2026
Rhea-AI Filing Summary
Metropolitan Bank Holding Corp. (MCB) Form 4 shows Director Robert C. Patent reported changes in his beneficial ownership on 09/18/2025. The filing discloses a disposition of 32,882 shares of common stock (transaction code J) and indicates the Reporting Person relinquished a power of attorney previously held over sibling-owned shares. The report lists 98,685 shares disposed (by sibling) and 14,445 shares held indirectly via a profit sharing plan, with restricted stock units noted to vest 100% on January 27, 2026. The signature is by an attorney-in-fact on behalf of the reporting person.
Positive
- None.
Negative
- Relinquished power of attorney over sibling shares, indicating a change in previously delegated voting authority
- Disposition of 32,882 shares reported on 09/18/2025 (Code J), reducing direct beneficial ownership
Insights
TL;DR: Insider reported a notable disposition and relinquished a power of attorney; transaction is disclosed but not tied to operating results.
The Form 4 documents a reported disposition of 32,882 shares on 09/18/2025 and indicates prior voting power over additional sibling-held shares was relinquished. From a market-impact perspective, the filing is a routine Section 16 disclosure of insider activity rather than an operational disclosure; no revenue, earnings, or forward guidance data are included. The mention of restricted stock units vesting 100% on January 27, 2026 is useful for modeling potential future insider holdings but does not itself convey performance metrics.
TL;DR: Relinquishment of power of attorney is governance-relevant; this filing clarifies voting/ownership roles but shows no governance breach.
The Reporting Person states he relinquished a previously held power of attorney over sibling shares, which explains the Code J notation and supports the reported change in beneficial ownership. This clarification reduces ambiguity about who held voting authority for those shares. The filing includes an attorney-in-fact signature, consistent with the disclosure of prior delegated authority. The report contains no admissions of prior beneficial ownership and includes an explicit disclaimer by the Reporting Person.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 32,882 | $0.00 | -- |
| holding | common stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The Reporting Person previously maintained a power of attorney granted by the Reporting Person's sibling with respect to these shares, including voting power over the shares. On September 18, 2025, this power of attorney was relinquished by the Reporting Person. The Reporting Person disclaims any current or prior beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is or was the beneficial owner of the securities for purposes of Section 16 or for any other purpose. Includes restricted stock units that vest 100% on January 27, 2026.
