Director LaFrance receives 2,700 restricted shares at Rhinebeck Bancorp (RBKB)
Rhea-AI Filing Summary
Rhinebeck Bancorp, Inc. director Shannon Martin LaFrance received a grant of 2,700 shares of Common Stock as restricted stock at $10.00 per share. These shares vest 33 1/3% per year starting on May 26, 2027. After this award, she directly holds 35,341 common shares. She also holds fully vested stock options for 22,875 shares of common stock at an exercise price of $4.70 per share, expiring on August 25, 2030. Share amounts and option terms reflect a 1.3978-to-1.00 stock exchange ratio related to the company’s mutual to stock conversion.
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Insider Trade Summary
Net Buyer: 2,700 shares
Net Buy
2 txns
Insider
LaFrance Shannon Martin
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock F1, F2 | 2,700 | $10.00 | $27K |
| holding | Stock Options F3, F1, F4 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 35,341 shares (Direct);
Stock Options — 22,875 shares (Direct)
Footnotes (4)
- F1. Reflects a 1.3978 to 1.00 stock exchange ratio in connection with the Company's mutual to stock conversion.
- F2. Shares of restricted stock vest at a rate of 33 1/3% per year commencing on May 26, 2027.
- F3. Exercise price has been adjusted for the 1.3978 to 1.00 exchange ratio in connection with the Company's mutual to stock conversion.
- F4. Stock options are fully vested.
Key Figures
Restricted stock grant: 2,700 shares
Grant price per share: $10.00 per share
Shares held after grant: 35,341 shares
+5 more
8 metrics
Restricted stock grant
2,700 shares
Common Stock granted as restricted stock to director Shannon Martin LaFrance
Grant price per share
$10.00 per share
Price used for the 2,700-share restricted stock award
Shares held after grant
35,341 shares
Total direct common shares owned by LaFrance following the award
Underlying option shares
22,875 shares
Common shares underlying fully vested stock options held by LaFrance
Option exercise price
$4.70 per share
Exercise price of stock options for 22,875 underlying common shares
Option expiration date
2030-08-25
Expiration date of the fully vested stock options
Restricted stock vesting rate
33 1/3% per year
Vesting rate for restricted shares starting May 26, 2027
Stock exchange ratio
1.3978 to 1.00
Exchange ratio used in mutual to stock conversion affecting shares and option terms
Key Terms
restricted stock, mutual to stock conversion, exercise price, fully vested
4 terms
restricted stock financial
"Shares of restricted stock vest at a rate of 33 1/3% per year"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
mutual to stock conversion financial
"ratio in connection with the Company's mutual to stock conversion"
exercise price financial
"Exercise price has been adjusted for the 1.3978 to 1.00 exchange ratio"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
fully vested financial
"Stock options are fully vested."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What transaction did Rhinebeck Bancorp (RBKB) director Shannon Martin LaFrance report?
Shannon Martin LaFrance reported receiving a grant of 2,700 shares of Rhinebeck Bancorp common stock as restricted stock at $10.00 per share. The award increases her direct ownership and is characterized as a grant/award acquisition, not an open-market purchase.
What are the vesting terms of LaFrance’s restricted Rhinebeck Bancorp (RBKB) stock?
The 2,700 restricted shares granted to LaFrance vest at a rate of 33 1/3% per year, beginning on May 26, 2027. This means the award becomes fully vested over three years, subject to the stated schedule in the grant’s vesting terms.
What stock options does LaFrance hold in Rhinebeck Bancorp (RBKB)?
LaFrance holds fully vested stock options covering 22,875 underlying shares of common stock with an exercise price of $4.70 per share. These options expire on August 25, 2030, and the strike price reflects the 1.3978-to-1.00 exchange ratio adjustment.
What is the 1.3978-to-1.00 stock exchange ratio mentioned for RBKB?
The filing notes a 1.3978-to-1.00 stock exchange ratio tied to Rhinebeck Bancorp’s mutual to stock conversion. This ratio adjusts both reported share amounts and the exercise price of stock options, ensuring the equity awards are comparable before and after the conversion.