OceanFirst (OCFC) COO exercises 37,500 options, uses shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
OceanFirst Financial Corp. director and Senior EVP/COO Joseph Lebel III exercised stock options and settled related taxes in shares. He exercised 37,500 stock options at $17.28 per share, receiving the same number of common shares. To cover the exercise price or tax liability, he disposed of 34,460 common shares at $19.71 per share, a tax-withholding transaction rather than an open-market sale. After these moves, he directly owned 295,198 common shares, and continued to hold additional stock options and indirect interests through a 401(k), an ESOP, and his spouse. A footnote states the total includes restricted common stock not yet vested and that the changes reflect exempt acquisitions under Rule 16b-3(c).
Positive
- None.
Negative
- None.
Insider Trade Summary
37,500 shares exercised/converted
Mixed
10 txns
Insider
Lebel Joseph III
Role
Senior EVP and COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 37,500 | $17.28 | $648K |
| Exercise | Common Stock | 37,500 | $17.28 | $648K |
| Tax Withholding | Common Stock | 34,460 | $19.71 | $679K |
| 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 | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 0 shares (Direct);
Common Stock — 329,658 shares (Direct);
Common Stock — 12,948 shares (Indirect, By 401(k))
Footnotes (1)
- Total includes shares of restricted Common stock that have not yet vested. This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to Rule 16b-3(c).
FAQ
What insider transactions did OCFC executive Joseph Lebel report?
Joseph Lebel reported an option exercise and a related tax-withholding share disposition. He exercised 37,500 stock options into common shares, then used 34,460 shares to cover the exercise price or tax liability, with both events occurring on February 17, 2026.
At what prices did the OCFC option exercise and tax withholding occur?
The option exercise occurred at $17.28 per share, converting options into 37,500 common shares. The tax-withholding disposition used 34,460 shares valued at $19.71 per share to satisfy the exercise price or related tax liability, according to the Form 4 disclosure.
What type of Form 4 transaction codes were used in the OCFC filing?
The filing shows code M for the exercise or conversion of a derivative security and code F for payment of the exercise price or tax liability by delivering shares. Both codes indicate non-open-market events tied to an existing equity award program.
Does the OCFC Form 4 include unvested restricted stock for Joseph Lebel?
The Form 4 notes that the reported total includes restricted common stock that has not yet vested. This means some of the shares reflected in his beneficial ownership are subject to vesting conditions under the company’s equity compensation arrangements.