PVBC EVP & COO reports share dispositions and option cash-out

Rhea-AI Filing Summary

Provident Bancorp, Inc. (PVBC) reported insider equity changes for its EVP and COO following the completion of its merger with NB Bancorp, Inc. On 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.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Mancini Joseph

Role EVP and COO

Type	Security	Shares	Price	Value
Disposition	Stock Options	0	$0.00	--
Disposition	Stock Options	0	$0.00	--
Disposition	Common Stock	14,628	$0.00	--
Disposition	Common Stock	7,926	$0.00	--
Disposition	Common Stock	1,914	$0.00	--

Holdings After Transaction: Stock Options — 0 shares (Direct); Common Stock — 0 shares (Direct); Common Stock — 0 shares (Indirect, By ESOP)

Footnotes (1)

1. Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 5, 2025, by and among NB Bancorp, Inc., Needham Bank, 1828 MS, Inc., the Issuer, and BankProv (the "Merger Agreement"), at the Effective Time (as defined in the Merger Agreement), each issued and outstanding share of Common Stock of the Issuer was converted into the right to receive, at the election of the holder, either (i) 0.691 shares of NB Bancorp common stock (the "Stock Consideration") or (ii) $13.00 in cash (the "Cash Consideration"), subject to proration procedures to ensure that 50% of the shares of Provident Bancorp common stock are converted into the Stock Consideration (the "Merger Consideration"). Pursuant to the Merger Agreement, all unvested shares of restricted stock automatically vested in full at the Effective Time, and were considered outstanding shares of common stock entitled to receive the Merger Consideration, net of all applicable withholding taxes. Pursuant to the Merger Agreement, each outstanding and unexercised option immediately prior to the Effective Time, whether vested or unvested, was cancelled in exchange for the right to receive an amount in cash equal to the product of (i) the excess, if any, of the Merger Consideration over the per share exercise price of such option, multiplied by (ii) the number of shares of Common Stock then subject to such option, net of all applicable withholding taxes.

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
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X

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^*

Mancini Joseph

(Last) (First) (Middle)

5 MARKET STREET

(Street)

AMESBURY MA 01913

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Provident Bancorp, Inc. /MD/ [ PVBC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and COO

3. Date of Earliest Transaction (Month/Day/Year)
11/15/2025

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	11/15/2025		D		14,628(2)	D	(1)	0	D
Common Stock	11/15/2025		D		7,926	D	(1)	0	I	By ESOP
Common Stock	11/15/2025		D		1,914	D	(1)	0	I	By 401(k)

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
Stock Options	$9.55	11/15/2025		D			$28,000	02/02/2024	02/02/2033	Common Stock	28,000	(3)	0	D
Stock Options	$15	11/15/2025		D			$30,000	04/22/2022	04/22/2031	Common Stock	30,000	(3)	0	D

Explanation of Responses:

1. Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 5, 2025, by and among NB Bancorp, Inc., Needham Bank, 1828 MS, Inc., the Issuer, and BankProv (the "Merger Agreement"), at the Effective Time (as defined in the Merger Agreement), each issued and outstanding share of Common Stock of the Issuer was converted into the right to receive, at the election of the holder, either (i) 0.691 shares of NB Bancorp common stock (the "Stock Consideration") or (ii) $13.00 in cash (the "Cash Consideration"), subject to proration procedures to ensure that 50% of the shares of Provident Bancorp common stock are converted into the Stock Consideration (the "Merger Consideration").

2. Pursuant to the Merger Agreement, all unvested shares of restricted stock automatically vested in full at the Effective Time, and were considered outstanding shares of common stock entitled to receive the Merger Consideration, net of all applicable withholding taxes.

3. Pursuant to the Merger Agreement, each outstanding and unexercised option immediately prior to the Effective Time, whether vested or unvested, was cancelled in exchange for the right to receive an amount in cash equal to the product of (i) the excess, if any, of the Merger Consideration over the per share exercise price of such option, multiplied by (ii) the number of shares of Common Stock then subject to such option, net of all applicable withholding taxes.

	/s/ Ned A. Quint, pursuant to power of attorney	11/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What does the Provident Bancorp (PVBC) Form 4 filing describe?

The Form 4 details equity transactions for an EVP and COO of Provident Bancorp, Inc. (PVBC) on 11/15/2025, reflecting share dispositions and option cancellations that occurred at the effective time of the company’s merger with NB Bancorp, Inc..

How many Provident Bancorp (PVBC) shares did the insider dispose of in this filing?

The insider disposed of 14,628 shares of common stock held directly, 7,926 shares held through an ESOP, and 1,914 shares held in a 401(k), in connection with the merger closing.

What merger consideration did Provident Bancorp (PVBC) shareholders receive?

At the effective time of the merger, each PVBC common 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 are converted into stock consideration.

How were restricted stock awards treated in the Provident Bancorp (PVBC) merger?

All unvested restricted stock automatically vested in full at the effective time of the merger and was treated as outstanding common stock entitled to receive the same merger consideration, net of applicable withholding taxes.

What happened to the Provident Bancorp (PVBC) stock options held by the insider?

The filing shows stock options for 28,000 shares at an exercise price of $9.55 and 30,000 shares at $15.00. At the effective time, each outstanding and unexercised option was cancelled in exchange for a cash payment equal to the excess of the merger consideration over the exercise price, multiplied by the number of underlying shares, after withholding taxes.

What is the insider’s relationship to Provident Bancorp (PVBC)?

The reporting person is identified as an Officer of Provident Bancorp, Inc., serving as EVP and COO, and filed this Form 4 as a single reporting person.