Provident Bancorp Inc SEC Filings

Provident Bancorp, Inc. (PVBC) President and CEO, who is also a director, reported the disposition of all reported common shares and stock options in connection with the completion of a merger with NB Bancorp, Inc. Under the Merger Agreement, each share of Provident Bancorp common stock was converted into the right to receive either 0.691 shares of NB Bancorp common stock or $13.00 in cash, subject to proration so that 50% of the shares receive stock consideration. Unvested restricted stock vested at the effective time and was treated as outstanding for this merger consideration. All outstanding stock options, including awards covering 25,500 and 24,598 shares of common stock, were cancelled in exchange for cash equal to their intrinsic value based on the merger consideration, after applicable withholding taxes.

Provident Bancorp, Inc. EVP and CFO filed a Form 4 reporting changes to his holdings tied to the merger with NB Bancorp, Inc. As of the 11/15/2025 transaction, 25,000 shares of common stock were disposed of, leaving 0 shares beneficially owned. Under the merger terms, each share of Provident Bancorp common stock was converted into the right to receive either 0.691 shares of NB Bancorp common stock or $13.00 in cash, subject to proration so that 50% of Provident Bancorp shares receive stock consideration. All unvested restricted stock vested at the effective time and was treated as outstanding for receiving this merger consideration. Outstanding stock options covering 20,000 shares at a per share exercise price of $11.17 were cancelled in exchange for a cash amount based on the excess of the merger consideration over the exercise price, after applicable withholding taxes.

Provident Bancorp, Inc. (PVBC) director filings show that, on 11/15/2025, the reporting person disposed of 90,267 shares of common stock held directly and 10,000 shares held indirectly through a spouse, leaving no reported beneficial ownership. These transactions occurred in connection with the closing of a merger under an Agreement and Plan of Merger among NB Bancorp, Inc., Needham Bank, 1828 MS, Inc., Provident Bancorp, Inc., and BankProv. At the effective time, each Provident Bancorp share was converted into the right to receive either 0.691 shares of NB Bancorp common stock or $13.00 in cash, subject to proration so that 50% of shares received stock consideration. Unvested restricted shares fully vested and received the same merger consideration. Outstanding stock options were cancelled in exchange for cash equal to any excess of the merger consideration over the option exercise price, multiplied by the number of underlying shares.

Provident Bancorp, Inc. (PVBC)11/15/2025, the officer disposed of 14,628 shares of common stock held directly, plus 7,926 shares held through an ESOP and 1,914 shares held in a 401(k). Under the merger terms, each Provident Bancorp share was converted into either 0.691 shares of NB Bancorp stock or $13.00 in cash, subject to proration so that 50% of shares receive stock consideration.

The filing also shows cancellation of stock options covering 28,000 shares at an exercise price of $9.55 and 30,000 shares at $15.00. Each option was cancelled at the effective time of the merger in exchange for a cash payment based on the excess of the merger consideration over the exercise price, after applicable withholding taxes. All unvested restricted stock automatically vested at the effective time and was treated as outstanding common stock entitled to the same merger consideration.

Provident Bancorp, Inc. (PVBC)47,721 shares of common stock. All unvested restricted stock vested at the merger closing and received the same merger consideration, after tax withholding. In addition, 25,500 stock options with an exercise price of $11.17 were cancelled in exchange for cash equal to the excess of the merger consideration over the option exercise price, multiplied by the number of underlying shares, also net of withholding taxes.

A director of Provident Bancorp, Inc. (PVBC) reported the disposition of 20,710 shares of common stock and the cancellation of all outstanding stock options in connection with the company’s merger with NB Bancorp, Inc. and its affiliates. Under the Merger Agreement, each Provident Bancorp share was converted into the right to receive either 0.691 shares of NB Bancorp common stock or $13.00 in cash, with proration so that half of the shares receive stock consideration. All unvested restricted stock fully vested and became eligible for this merger consideration. Each outstanding option was cancelled in exchange for a cash payment based on the excess of the merger consideration over the option’s exercise price, multiplied by the number of underlying shares, after applicable tax withholding.

Provident Bancorp, Inc. (PVBC) director files Form 4 reporting merger-related transactions. On 11/15/2025, the reporting person disposed of 23,683 shares of common stock held directly, 6,689 shares held in an IRA, and 202 shares held as custodian for a child, reflecting completion of the company’s merger with NB Bancorp, Inc.

Under the merger agreement, each PVBC share was converted into the right to receive either 0.691 shares of NB Bancorp common stock or $13.00 in cash, subject to proration so that 50% of PVBC shares receive stock consideration. All unvested restricted stock vested at the effective time and received the same merger consideration. Outstanding stock options with exercise prices of $10.40 and $8.6087 covering 25,500 and 24,608 shares were cancelled in exchange for cash based on the merger consideration.

Provident Bancorp, Inc. (PVBC)0.691 shares of NB Bancorp common stock or $13.00 in cash, with proration to keep roughly half of the shares in stock and half in cash. The director’s directly held shares and shares held through an IRA, spouse, and children all went to zero as they were converted into this merger consideration. Unvested restricted stock fully vested at the effective time and was treated as outstanding for payment. All outstanding stock options, including options with exercise prices of $10.40 and $8.6087 covering 25,500 and 21,108 shares of common stock, were cancelled and exchanged for cash equal to their in-the-money value, after taxes.

Provident Bancorp, Inc. (PVBC)