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OCFC (OCEANFIRST FINANCIAL CORP) CFO gets stock awards, forfeits shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

OCEANFIRST FINANCIAL CORP Senior EVP & CFO Patrick Sean Barrett reported equity compensation changes in company common stock. On February 27, 2026, he acquired 22,840 restricted shares and an additional 15,228 restricted shares as grants that vest over time or based on performance targets.

The footnotes explain that one grant vests in four equal annual installments beginning March 1, 2027, and another vests on March 1, 2029 at approximately 33% to 100% depending on defined performance criteria for 2026–2028. On March 1, 2026, he disposed of 18,972 unvested performance-based restricted shares that were forfeited for failing to meet prior performance conditions.

After these transactions, he directly owned 152,993 common shares, and also had 1,210 shares held indirectly through an ESOP. The filing notes that the changes in beneficial ownership arise from exempt acquisitions under Rule 16b-3(c).

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Insider Barrett Patrick Sean
Role Senior EVP & CFO
Type Security Shares Price Value
Disposition Common Stock 18,972 $0.00 --
Grant/Award Common Stock 15,228 $0.00 --
Grant/Award Common Stock 22,840 $0.00 --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 152,993 shares (Direct); Common Stock — 1,210 shares (Indirect, By ESOP)
Footnotes (1)
  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).
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Barrett Patrick Sean
(Last) (First) (Middle)
110 WEST FRONT STREET
(Street)
RED BANK NJ 07701
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
OCEANFIRST FINANCIAL CORP [ OCFC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Senior EVP & CFO
3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/27/2026 A 15,228 A $0 149,125 D(1)
Common Stock 02/27/2026 A 22,840 A $0 171,965 D(2)
Common Stock 03/01/2026 D 18,972 D $0 152,993 D(3)
Common Stock 1,210 I By ESOP(4)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
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.
2. 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.
3. 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.
4. This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to Rule 16b-3(c).
Remarks:
/s/ Steven J. Tsimbinos, Power of Attorney 03/03/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did OCFC CFO Patrick Sean Barrett report?

OCFC’s CFO Patrick Sean Barrett reported equity grants and a forfeiture. He received two restricted stock awards totaling 38,068 shares on February 27, 2026, and forfeited 18,972 unvested performance-based restricted shares on March 1, 2026 due to unmet performance conditions.

Were the OCFC insider transactions open-market buys or sells?

The OCFC insider transactions were not open-market buys or sells. They were equity compensation grants and a forfeiture of unvested performance-based restricted shares, all recorded at a price of $0.0000 per share as typical for stock awards rather than market trades.

How many OCFC shares does the CFO own after these Form 4 transactions?

After these transactions, the CFO directly owned 152,993 OCFC common shares. The filing also lists an additional 1,210 shares held indirectly through an ESOP, reflecting both vested holdings and unvested restricted stock awards noted in the accompanying footnotes.

What are the vesting terms for the new OCFC restricted stock awards?

One OCFC restricted stock grant vests in four equal annual installments starting March 1, 2027. Another vests on March 1, 2029 at approximately 33% to 100%, depending on defined performance criteria for the 2026–2028 period, or is forfeited if thresholds are not met.

Why were some OCFC performance-based restricted shares forfeited?

The filing states that 18,972 unvested performance-based restricted shares, originally awarded on February 28, 2023, were forfeited. The forfeiture occurred because the performance conditions attached to that award were not satisfied, so the shares did not vest under the plan’s rules.

Are the OCFC insider acquisitions exempt under Rule 16b-3?

Yes. A footnote explains that the form reflects increases in beneficial ownership from exempt acquisitions under Rule 16b-3(c). This rule generally covers board-approved compensation-related transactions, so these grants are treated as exempt from short-swing profit recovery provisions.