MVB Financial (MVBF) CFO awarded 3,825 RSUs under incentive plan
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
Sumbs Michael Robert reported acquisition or exercise transactions in this Form 4 filing.
MVB Financial Corp Chief Financial Officer Michael Robert Sumbs reported a grant of restricted stock units (RSUs) covering 3,825 shares of common stock. The award was granted under the 2022 Stock Incentive Plan at no purchase price.
The footnotes state these restricted units follow a three-year graded vesting schedule, assuming continued employment with the company, with RSUs awarded on May 1, 2026 vesting over a three-year period beginning on May 1, 2027. Following the reported award, Sumbs is shown as directly holding 3,825 RSUs.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Sumbs Michael Robert
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | RSU - Time-Vested Award | 3,825 | $0.00 | -- |
| Grant/Award | RSU - Time-Vested Award | 3,825 | $0.00 | -- |
Holdings After Transaction:
RSU - Time-Vested Award — 3,825 shares (Direct, null)
Footnotes (1)
- The restricted units were granted pursuant to the 2022 Stock Incentive Plan and have a three-year graded vesting schedule assuming continued employment with the Company. RSUs awarded on May 1, 2026 that vest over a three-year period beginning on May 1, 2027.
Key Figures
RSUs granted: 3,825 units
Underlying shares: 3,825 shares
Grant price: $0.00 per unit
+1 more
4 metrics
RSUs granted
3,825 units
Restricted stock units granted to CFO Michael Robert Sumbs
Underlying shares
3,825 shares
Common stock underlying the RSU award
Grant price
$0.00 per unit
RSU grant under compensation plan, no purchase price
Vesting start date
May 1, 2027
Three-year graded vesting begins on this date
Key Terms
RSU - Time-Vested Award, restricted units, 2022 Stock Incentive Plan, three-year graded vesting schedule, +1 more
5 terms
RSU - Time-Vested Award financial
"security_title: RSU - Time-Vested Award"
restricted units financial
"The restricted units were granted pursuant to the 2022 Stock Incentive Plan"
2022 Stock Incentive Plan financial
"granted pursuant to the 2022 Stock Incentive Plan and have a three-year graded vesting schedule"
three-year graded vesting schedule financial
"have a three-year graded vesting schedule assuming continued employment with the Company"
restricted stock units (RSUs) financial
"RSUs awarded on May 1, 2026 that vest over a three-year period"
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
FAQ
What insider transaction did MVB Financial (MVBF) report for its CFO?
MVB Financial reported that CFO Michael Robert Sumbs received a grant of 3,825 restricted stock units. These RSUs represent a compensation award tied to the company’s common stock rather than an open-market purchase or sale of shares.
How many RSUs did the MVB Financial (MVBF) CFO receive in this Form 4/A?
The filing shows a grant of 3,825 restricted stock units to the CFO. Each RSU corresponds to one share of MVB Financial common stock, subject to vesting conditions and continued employment with the company over the stated period.
What is the vesting schedule for the MVB Financial (MVBF) CFO’s RSU award?
The restricted units vest on a three-year graded schedule beginning May 1, 2027. Vesting is conditioned on the CFO’s continued employment with MVB Financial, aligning his compensation with long-term company performance over that period.
Under which plan were the MVB Financial (MVBF) CFO’s RSUs granted?
The RSUs were granted under MVB Financial’s 2022 Stock Incentive Plan. This plan provides equity-based awards, such as restricted stock units, to align key employees’ compensation with shareholder interests through long-term stock-based incentives.