NorthEast Community Bancorp, Inc. (NECB) EVP details ESOP and stock award holdings
Rhea-AI Filing Summary
NorthEast Community Bancorp executive Casey Ryan Michael filed an initial ownership statement reporting indirect holdings of 6,967 shares of common stock through an ESOP and 1,050 shares of common stock as Stock Awards under the company’s 2022 Equity Incentive Plan, which vest on November 15, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Casey Ryan Michael
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock F1 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 6,967 shares (Indirect, By ESOP);
Common Stock — 1,050 shares (Indirect, By Stock Award)
Footnotes (1)
- F1. Stock Awards granted pursuant to the NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan vest on November 15, 2026.
Key Figures
ESOP indirect holdings: 6,967 shares
Stock award holdings: 1,050 shares
Stock award vesting date: November 15, 2026
3 metrics
ESOP indirect holdings
6,967 shares
Indirect common stock held through ESOP for Casey Ryan Michael
Stock award holdings
1,050 shares
Indirect common stock from Stock Awards under 2022 Equity Incentive Plan
Stock award vesting date
November 15, 2026
Vesting date for Stock Awards granted under the 2022 Equity Incentive Plan
Key Terms
ESOP, Stock Awards, Equity Incentive Plan
3 terms
ESOP financial
"Nature of ownership reported as "By ESOP" for 6,967 shares"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
Stock Awards financial
"Stock Awards granted pursuant to the 2022 Equity Incentive Plan vest"
Equity Incentive Plan financial
"NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan vest on November"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What NECB ownership does Casey Ryan Michael report in this Form 3?
The filing shows indirect ownership of NorthEast Community Bancorp common stock: 6,967 shares held through an ESOP and 1,050 shares held as Stock Awards that vest on November 15, 2026 under the 2022 Equity Incentive Plan.
Are Casey Ryan Michael’s NECB holdings reported as direct or indirect?
All reported NECB holdings are indirect. The Form 3 lists 6,967 common shares held “By ESOP” and 1,050 common shares held “By Stock Award,” both categorized as indirect ownership, rather than shares held directly in the insider’s personal name.
When do Casey Ryan Michael’s NECB stock awards vest?
The footnote states the Stock Awards vest on November 15, 2026. These 1,050 NECB common shares were granted under the NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan and become fully vested on that specified date if plan conditions are met.
What plan governs the stock awards reported for NECB in this Form 3?
The 1,050 NECB common shares are Stock Awards granted under the NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan. A footnote explains that awards pursuant to this plan are scheduled to vest on November 15, 2026, defining their vesting timeline.