Seacoast (SBCF) CRO exercises options and sells 12,635 shares
Rhea-AI Filing Summary
Seacoast Banking Corp of Florida EVP & CRO Joseph M. Forlenza exercised options for 12,635 shares of common stock at $31.15 per share on February 26, 2026. He then sold 12,635 shares of common stock the same day at a weighted average price of $32.90, with individual trades ranging from $32.89 to $32.95.
After these transactions, he directly owned 42,392 shares of common stock. He also holds several unvested time-based restricted stock awards that vest in one-third increments annually beginning in 2024, 2025, and 2026, subject to continued employment under the company’s incentive plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and Sale: 12,635 shares ($22K approx. pre-tax spread)
Exercise and Sale
6 txns
Insider
FORLENZA JOSEPH M
Role
EVP & CRO
Sold
12,635 shs ($416K)
Approx. gross sale proceeds
$416K
Approx. exercise cost
$394K
Approx. pre-tax spread
$22K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Common Stock Right to Buy | 12,635 | $31.15 | $394K |
| Exercise | Common Stock | 12,635 | $31.15 | $394K |
| Sale | Common Stock | 12,635 | $32.90 | $416K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock Right to Buy — 0 shares (Direct);
Common Stock — 57,585 shares (Direct)
Footnotes (6)
- F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.89 to $32.95. The reporting person undertakes to provide, upon request by the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price for this transaction
- F2. Represents an unvested time-based restricted stock award granted on April 1, 2023, which shall vest over 3 years in one-third increments, beginning April 2, 2024, and on each anniversary thereafter, subject to continued employment
- F3. Represents an unvested time-based restricted stock award granted on April 1, 2024, which shall vest over 3 years in one-third increments, beginning April 1, 2025, and on each anniversary thereafter, subject to continued employment
- F4. Represents an unvested time based restricted stock award grated on April 1, 2025, which vests over 3 years in one-third increments, beginning April 1, 2026, and on each anniversary thereafter subject to continued employment
- F5. Granted pursuant to the Company's Amended and Restated 2013 Incentive Plan
- F6. Represents stock option granted on April 2, 2018 ("grant date") that vests over 3 years in one-third increments each anniversary of the date of grant beginning on the first anniversary of the date of grant, subject to continued employment
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did SBCF executive Joseph Forlenza report?
Joseph Forlenza reported exercising options for 12,635 Seacoast Banking common shares at $31.15 and selling 12,635 shares at a weighted average of $32.90. The sales occurred in multiple trades between $32.89 and $32.95 on February 26, 2026.
What option exercise did the SBCF EVP report on this Form 4?
He exercised a stock option for 12,635 shares of Seacoast Banking common stock at an exercise price of $31.15 per share. The option was originally granted on April 2, 2018 and vested in one-third increments on each anniversary of the grant date.
Does the SBCF EVP hold unvested restricted stock awards?
Yes. The filing notes multiple unvested time-based restricted stock awards granted in 2023, 2024, and 2025. Each award vests in one-third increments annually beginning in 2024, 2025, and 2026, respectively, contingent on his continued employment.
Under what plan were the SBCF equity awards to Joseph Forlenza granted?
The equity awards reported for Joseph Forlenza were granted under Seacoast Banking’s Amended and Restated 2013 Incentive Plan. This plan governs stock options and time-based restricted stock awards that vest over several years, subject to the executive’s continued employment with the company.