Norwood Financial (NWFL) director receives 45-share equity award
Rhea-AI Filing Summary
PHILLIPS KENNETH A reported acquisition or exercise transactions in this Form 4 filing.
Norwood Financial Corp director Kenneth A. Phillips reported a new equity award of common stock. On May 11, 2026, he received a grant of 45 shares of Norwood Financial common stock at $30.20 per share as director retainer shares issued under the 2024 Equity Incentive Plan. Following this compensation-related award, his directly held common stock position is 15,805 shares. The filing also lists several indirect restricted stock holdings, each subject to vesting in scheduled installments between December 2022 and December 2026, contingent on continued service as an employee, outside director or director emeritus.
Positive
- None.
Negative
- None.
Insider Trade Summary
7 transactions reported
Mixed
7 txns
Insider
PHILLIPS KENNETH A
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 45 | $30.20 | $1K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 15,805 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 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.
Key Figures
Director share grant: 45 shares of Common Stock
Grant reference price: $30.20 per share
Direct holdings after award: 15,805 shares
+3 more
6 metrics
Director share grant
45 shares of Common Stock
Grant/award on May 11, 2026
Grant reference price
$30.20 per share
Director retainer shares issued under 2024 Equity Incentive Plan
Direct holdings after award
15,805 shares
Total common stock directly owned following the transaction
Restricted stock lot
825 shares
Indirect restricted stock holding, total shares following transaction
Restricted stock lot
550 shares
Indirect restricted stock holding, total shares following transaction
Restricted stock lot
420 shares
Indirect restricted stock holding, total shares following transaction
Key Terms
Restricted Stock, 2024 Equity Incentive Plan, Director Retainer Shares, vests in five equal installments, +1 more
5 terms
Restricted Stock financial
"nature_of_ownership: "Restricted Stock" for multiple indirect holdings"
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.
2024 Equity Incentive Plan financial
"Director Retainer Shares issued under the 2024 Equity Incentive Plan."
vests in five equal installments financial
"Award vests in five equal installments beginning on December 14, 2022..."
vests in three equal installments financial
"Award vests in three equal installments beginning December 15, 2025..."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Norwood Financial (NWFL) report for Kenneth A. Phillips?
Norwood Financial reported that director Kenneth A. Phillips received a grant of 45 shares of common stock as director retainer shares. The award is part of his compensation and was issued under the company’s 2024 Equity Incentive Plan at a stated value of $30.20 per share.
Was the Norwood Financial (NWFL) Form 4 an open-market buy or a compensation grant?
The Form 4 reflects a compensation-related grant, not an open-market purchase. Phillips received 45 shares of common stock coded as an award acquisition, described as director retainer shares issued under the 2024 Equity Incentive Plan with a reference price of $30.20 per share.
How do the restricted stock awards for Norwood Financial (NWFL) vest over time?
Restricted stock awards referenced in the filing vest in scheduled installments over multiple years. Footnotes state various awards vest in three or five equal installments beginning on specific December dates from 2022 through 2026, conditioned on continued service as an employee, outside director or director emeritus.