[Form 4] NorthEast Community Bancorp, Inc./MD/ Insider Trading Activity

Rhea-AI Filing Summary

Joel L. Morgenthau, a director of NorthEast Community Bancorp, Inc. (NECB), reported changes in his beneficial ownership on a Form 4 filed with the SEC. The filing shows a stock award of 1,440 common shares recorded on 09/18/2025 at a reported price of $0.0000, with those shares held indirectly and totaling 1,440 shares after the transaction. The filing also records a disposition of 2,000 common shares, though the form does not provide a date or price for that disposal. The stock awards are governed by the company’s 2022 Equity Incentive Plan and vest in two equal annual installments beginning on 09/18/2026. The Form 4 is signed by Mr. Morgenthau on 09/22/2025.

Positive

• 1,440-share stock award granted under the 2022 Equity Incentive Plan, aligning director incentives with shareholders
• Clear vesting schedule: awards vest in two equal annual installments beginning 09/18/2026

Negative

• Disposition of 2,000 common shares reported without an accompanying date or price, limiting transparency
• Indirect ownership of the awarded shares with no detail on the holding vehicle, reducing clarity on control rights

Insights

Securities Analyst

TL;DR: Director received 1,440 shares via award and reported a 2,000-share disposition; vesting delayed until 2026, limited immediate economic impact.

The reported 1,440-share stock award reflects compensation under the 2022 Equity Incentive Plan and is recorded at $0.0000 because it is an equity grant rather than an open-market purchase. These shares are held indirectly, suggesting ownership through an entity or trust, which can affect voting and transfer timing but is common for executives and directors. The filing also lists a 2,000-share disposition without accompanying date or price details, limiting assessment of proceeds or tax implications. Vesting occurs in two equal annual installments starting 09/18/2026, indicating the award is time-based and not immediately liquid.

Corporate Governance Expert

TL;DR: This is a routine director compensation and transaction disclosure with no clearly material corporate governance change.

The Form 4 documents a standard equity grant structure used to align director incentives with shareholder interests, with clear vesting terms under the 2022 Equity Incentive Plan. The indirect ownership notation is disclosed, but the filing does not detail the vehicle or its control rights, which would be relevant for governance analysis. The lacking date/price for the 2,000-share disposition reduces transparency regarding possible open-market sales or transfers. Overall, disclosures are consistent with routine insider reporting requirements and do not by themselves indicate a material governance or control shift.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Morgenthau Joel Lee

(Last) (First) (Middle)

325 HAMILTON AVENUE

(Street)

WHITE PLAINS NY 10601

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NorthEast Community Bancorp, Inc./MD/ [ NECB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/18/2025		A		1,440	A	$0.0000	1,440	I	By Stock Award(1)
Common Stock								2,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Stock Awards granted pursuant to the NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan vest in two equal annual installments commencing on September 18, 2026.

	/s/ Joel L. Morgenthau	09/22/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did NECB director Joel L. Morgenthau report on Form 4?

The Form 4 reports a 1,440-share stock award recorded on 09/18/2025 and a disposition of 2,000 common shares; the award is held indirectly.

When do the awarded NECB shares vest?

The stock awards vest in two equal annual installments beginning on 09/18/2026 under the NorthEast Community Bancorp 2022 Equity Incentive Plan.

Was a price disclosed for the awarded shares?

The award line shows a price of $0.0000, indicating these were equity grants rather than purchases; no monetary proceeds are shown for the award.

Is there a date or price for the 2,000-share disposition?

The filing lists a 2,000-share disposition but does not provide a transaction date or price in the submitted content.

What is the reporting person’s relationship to NECB?

Joel L. Morgenthau is reported as a Director of NorthEast Community Bancorp, Inc.