Norwood Financial director granted 45 NWFL shares
PHILLIPS KENNETH A reported acquisition or exercise transactions in this Form 4 filing.
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Form Type
4
Rhea-AI Filing Summary
PHILLIPS KENNETH A reported acquisition or exercise transactions in this Form 4 filing.
NORWOOD FINANCIAL CORP director Kenneth A. Phillips received a grant of 45 shares of Common Stock on April 10, 2026, valued at $30.39 per share, as Director Retainer Shares issued under the 2024 Equity Incentive Plan. Following this award, he holds 15,760 shares directly, and the filing also lists several indirect restricted stock holdings that vest in equal installments beginning on various December dates from 2022 through 2026, contingent on continued service.
Insider Trade Summary
Grant/Award: 45 shares
Grant/Award
7 txns
Insider
PHILLIPS KENNETH A
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 45 | $30.39 | $1K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 15,760 shares (Direct);
Common Stock — 2,197 shares (Indirect, Restricted Stock)
Footnotes (6)
- F1. Director Retainer Shares issued under the 2024 Equity Incentive Plan.
- F2. Award vests in five equal installments beginning on December 14, 2022 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
- F3. Award vests in five equal installments beginning on December 13, 2023 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
- F4. Award vests in five equal installments beginning on December 12, 2024 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
- F5. Award vests in three equal installments beginning on December 15, 2025 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
- F6. Award vests in three equal installments beginning on December 15, 2026 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
Key Figures
Director share grant: 45 shares
Grant reference price: $30.39 per share
Direct holdings after award: 15,760 shares
+3 more
6 metrics
Director share grant
45 shares
Common Stock award on April 10, 2026
Grant reference price
$30.39 per share
Common Stock director award
Direct holdings after award
15,760 shares
Common Stock held directly by Kenneth A. Phillips
Restricted stock holding example
825 shares
Indirect restricted stock position listed in filing
Vesting structure (example)
5 equal installments
Awards beginning December 14, 2022 and December 13, 2023
Later vesting structure
3 equal installments
Awards beginning December 15, 2025 and December 15, 2026
Key Terms
Director Retainer Shares, 2024 Equity Incentive Plan, Restricted Stock, Outside Director, +1 more
5 terms
2024 Equity Incentive Plan financial
"Director Retainer Shares issued under the 2024 Equity Incentive Plan."
Restricted Stock financial
"nature_of_ownership": "Restricted Stock""
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
Outside Director financial
"during such periods of continued service as an Employee, Outside Director or Director Emeritus"
Director Emeritus financial
"during such periods of continued service as an Employee, Outside Director or Director Emeritus"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did NWFL director Kenneth A. Phillips report in this Form 4?
Director Kenneth A. Phillips reported receiving a grant of 45 shares of Norwood Financial common stock. The shares were awarded at $30.39 each as part of his director retainer compensation and increase his directly held position to 15,760 shares after the transaction.
Was the NWFL Form 4 transaction an open-market stock purchase?
No, the filing shows a grant or award acquisition of 45 common shares, not an open-market purchase. The shares were issued as Director Retainer Shares under Norwood Financial’s 2024 Equity Incentive Plan as compensation for board service.
How do the restricted stock awards for NWFL’s director vest over time?
The filing describes restricted stock awards that vest in equal installments beginning on specific December dates from 2022 through 2026. Vesting continues annually during periods of continued service as an employee, outside director, or director emeritus, aligning equity compensation with ongoing board or employment service.
What is the 2024 Equity Incentive Plan mentioned in the NWFL Form 4?
The 2024 Equity Incentive Plan is Norwood Financial’s program for granting equity-based compensation, including Director Retainer Shares. Under this plan, director Kenneth A. Phillips received 45 common shares, which form part of his overall equity-based compensation for board service at the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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