OceanFirst Financial (OCFC) COO gets stock awards, forfeits shares
Rhea-AI Filing Summary
OceanFirst Financial Corp Senior EVP and COO Joseph Lebel III reported equity award grants and a forfeiture of performance-based shares. On February 27, 2026, he received two grants of common stock awards of 26,304 and 39,452 shares at no cost, structured as restricted stock.
One award vests in four equal annual installments beginning March 1, 2027, and another vests on March 1, 2029 at approximately 33% to 100% based on performance from January 1, 2026 through December 31, 2028, or is forfeited if threshold performance is not met. On March 1, 2026, 31,303 unvested performance-based restricted shares were forfeited to the issuer after failing to satisfy performance conditions, leaving 329,651 directly held common shares. The filing also reflects updated holdings of stock options and indirect ownership through a 401(k), ESOP, and spouse, with increases noted as exempt acquisitions under Rule 16b-3(c).
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 31,303 | $0.00 | -- |
| Grant/Award | Common Stock | 26,304 | $0.00 | -- |
| Grant/Award | Common Stock | 39,452 | $0.00 | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Restricted shares awarded. Such shares vest in four equal annual installments beginning on March 1, 2027. Total includes other restricted shares that vest in the future. Restricted shares awarded. Such shares vest on March 1, 2029 at approximately 33% to 100% depending on the attainment of defined performance criteria for the three year period from January 1, 2026 through December 31, 2028, or are forfeited if threshold performance is not met. Total includes other unvested restricted shares that vest in the future. Represents forfeiture of unvested performance based restricted shares, originally awarded on February 28, 2023, for failure to satisfy performance conditions. Total includes other unvested shares that vest in the future. This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to Rule 16b-3(c).
