Norwood Financial (NWFL) director receives retainer and restricted stock
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Norwood Financial Corp director Kenneth A. Phillips reported a series of small stock awards, described as Director Retainer Shares issued under the 2024 Equity Incentive Plan. He acquired 123, 117, 116, 105 and 43 shares of common stock on April 10, 2025, July 10, 2025, October 10, 2025, January 12, 2026 and February 11, 2026, respectively, at prices between $24.33 and $31.62 per share, bringing his directly held common stock to 15,669 shares.
The filing also lists several indirect holdings of restricted stock (40, 280, 420, 550, 82 and 825 shares), with awards scheduled to vest in equal installments beginning on December 14, 2022, December 13, 2023, December 12, 2024, December 15, 2025 and December 15, 2026, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
11 transactions reported
Mixed
11 txns
Insider
PHILLIPS KENNETH A
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 43 | $31.62 | $1K |
| Grant/Award | Common Stock | 105 | $28.42 | $3K |
| Grant/Award | Common Stock | 116 | $25.84 | $3K |
| Grant/Award | Common Stock | 117 | $25.60 | $3K |
| Grant/Award | Common Stock | 123 | $24.33 | $3K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 15,669 shares (Direct);
Common Stock — 40 shares (Indirect, Restricted Stock)
Footnotes (1)
- Director Retainer Shares issued under the 2024 Equity Incentive Plan. 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. 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. 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. 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. 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.
FAQ
What insider transaction did NWFL director Kenneth A. Phillips report?
Kenneth A. Phillips reported acquiring small grants of Norwood Financial common stock as Director Retainer Shares under the 2024 Equity Incentive Plan. Awards on five dates from April 2025 to February 2026 increased his directly held shares to 15,669 at prices between $24.33 and $31.62.
How do the NWFL restricted stock awards to Kenneth A. Phillips vest over time?
The restricted awards vest in equal annual installments, with five-installment schedules beginning December 14, 2022, December 13, 2023 and December 12, 2024, and three-installment schedules beginning December 15, 2025 and December 15, 2026, subject to continued service as an Employee or Director.
What is the nature of the NWFL equity awards reported for Kenneth A. Phillips?
The reported awards are Director Retainer Shares and restricted stock granted under Norwood Financial’s equity incentive arrangements. They represent non-cash compensation that increases his ownership stake, with vesting tied to ongoing service as an Employee, Outside Director or Director Emeritus.