OceanFirst Financial (NASDAQ: OCFC) CEO reports new stock awards and forfeiture
Rhea-AI Filing Summary
OCEANFIRST FINANCIAL CORP Chairman and CEO Christopher Maher reported a mix of stock awards and forfeitures. On February 27, 2026, he acquired 28,904 restricted common shares and 43,355 restricted common shares as grants at $0 per share. According to the footnotes, 28,904 shares vest in four equal annual installments beginning on March 1, 2027, while 43,355 shares vest on March 1, 2029 at approximately 33% to 100% based on performance for the period from January 1, 2026 through December 31, 2028.
On March 1, 2026, Maher disposed of 34,149 unvested performance-based restricted shares to the issuer at $0 per share, reflecting forfeiture for not meeting performance conditions tied to an award originally granted on February 28, 2023. After these transactions, his directly held common stock position is reported at 382,768 shares, and the filing also lists various stock option holdings and indirect ownership through an ESOP, a 401(k) plan, and his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 34,149 | $0.00 | -- |
| Grant/Award | Common Stock | 28,904 | $0.00 | -- |
| Grant/Award | Common Stock | 43,355 | $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).
