Director at NorthEast Community Bancorp (NECB) exercises options and withholds shares for taxes
Rhea-AI Filing Summary
NorthEast Community Bancorp director Charles Michael Cirillo reported several equity transactions in company stock. On March 4, 2026, he exercised a stock option for 7,240 shares, described as a "Stock Option (right to buy)", leaving 28,961 stock options held directly after the exercise.
The exercise produced 7,240 shares of common stock at a stated price of $12.4000 per share, bringing his direct common stock holdings to 13,045 shares before tax withholding. To cover the exercise price or tax liability, 3,674 common shares were disposed of at $24.4300 per share, reducing his direct common stock position to 9,371 shares.
In addition to these direct holdings, Cirillo is shown with 10,000 common shares held indirectly "By IRA" and 5,792 common shares held indirectly "By Stock Award." Footnotes state that stock awards and stock options granted under the NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan vest in five approximately equal annual installments commencing on September 30, 2023.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 7,240 | $0.00 | -- |
| Exercise | Common Stock | 7,240 | $12.40 | $90K |
| Tax Withholding | Common Stock | 3,674 | $24.43 | $90K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Stock Awards granted pursuant to the NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan vest in five equal annual installments commencing on September 30, 2023. Stock Options granted pursuant to the NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan vest in five approximately equal annual installments commencing on September 30, 2023.