Private Bancorp of America (PBAM) files Form 3 for EVP and COO Pierron
Rhea-AI Filing Summary
Private Bancorp of America, Inc. reported that Michael Francis Pierron, its EVP and COO, filed an initial statement of beneficial ownership as a reporting person. The filing lists no equity holdings or transactions and includes an exhibit described as a Power of Attorney.
Positive
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Negative
- None.
Key Terms
Form 3, beneficial ownership, Power of Attorney
3 terms
Form 3 regulatory
"filed an initial statement of beneficial ownership as a Form 3"
Form 3 is the initial public filing that officers, directors and large shareholders must submit to report their ownership of a company’s securities when they become insiders. It acts like an opening inventory sheet that gives investors a starting point to see who holds significant stakes and to spot later trades or potential conflicts of interest, helping assess insider confidence and transparency.
beneficial ownership regulatory
"filed an initial statement of beneficial ownership as a reporting person"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Power of Attorney regulatory
"remarks reference Exhibit 24 - Power of Attorney as an exhibit"
A power of attorney is a legal document that allows one person to make decisions and act on behalf of another person, often in financial or legal matters. It’s like giving someone a trusted helper or agent the authority to handle important tasks if you are unable to do so yourself. This matters to investors because it can impact how their assets are managed or transferred if they become unable to oversee their affairs.
FAQ
What does the PBAM Form 3 filed for Michael Francis Pierron show?
The Form 3 identifies Michael Francis Pierron as an EVP and COO and reporting person of Private Bancorp of America, Inc. It reports no transactions or holdings and references an exhibit titled Power of Attorney.
Is Michael Francis Pierron a ten percent owner of PBAM according to this Form 3?
No. The Form 3 indicates that Michael Francis Pierron is not a ten percent owner of Private Bancorp of America, Inc. He is listed instead as an officer with the title EVP and COO.
Does the PBAM Form 3 for Michael Pierron report any stock transactions?
No transactions are reported. The transaction section shows zero buys, zero sells, zero derivative exercises, and there are no holding entries, indicating no reportable equity positions in this filing.
What is the significance of the Power of Attorney mentioned in the PBAM Form 3?
The remarks reference an exhibit titled Exhibit 24 - Power of Attorney. This typically authorizes another party to sign SEC ownership reports on the insider’s behalf, but the filing here only notes its existence without further detail.
Does the PBAM Form 3 indicate any Rule 10b5-1 trading plan for Michael Pierron?
No. The Form 3 data show the Rule 10b5-1 plan field as null, and there are no transactions or footnotes describing any trading plan in connection with this initial ownership statement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
