TrustCo Bank (TRST) Form 4 shows RSU vesting and tax withholding
Rhea-AI Filing Summary
TrustCo Bank Corp NY (TRST) executive Michael M. Ozimek reported routine equity transactions related to restricted stock units (RSUs). On 11/19/2025, 1,100 RSUs vested and were settled into an equal number of common shares at an exercise price of $0, reflecting a standard equity compensation event. On the same date, 455 common shares were withheld at a price of $39.70 per share to cover tax obligations from the RSU vesting.
After these transactions, Ozimek directly owned 39,572 shares of common stock and indirectly held 152 shares through a family account. He also continued to hold RSUs covering 2,215 and 3,057 underlying common shares that vest in three equal annual installments beginning on specified anniversaries of their grant dates. The filing notes additional shares acquired through dividend reinvestment and employee benefit plan features.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | RESTRICTED STOCK UNIT | 1,100 | $0.00 | -- |
| Exercise | COMMON STOCK | 1,100 | $0.00 | -- |
| Tax Withholding | COMMON STOCK | 455 | $39.70 | $18K |
| holding | RESTRICTED STOCK UNIT | -- | -- | -- |
| holding | RESTRICTED STOCK UNIT | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
Footnotes (1)
- Represents the vesting and settlement of restricted stock units ("RSUs"), which convert into common stock of the Issuer on a one-for-one basis. In an exempt transaction pursuant to Rule 16b-3(e), shares of the Issuer's common stock were withheld by the Issuer for the payment of withholding taxes due upon the vesting of RSUs. Each RSU represents a contingent right to receive one share of the Issuer's common stock upon vesting. The RSU's vest in three equal annual installments beginning on November 21, 2024, the first anniversary of the date of the grant. The RSU's vest in three equal annual installments beginning on November 19, 2025, the first anniversary of the date of the grant. The RSU's vest in three equal annual installments beginning on November 18, 2026, the first anniversary of the date of the grant.
FAQ
What insider transaction did TRST executive Michael M. Ozimek report?
On 11/19/2025, Michael M. Ozimek reported the vesting and settlement of 1,100 restricted stock units (RSUs) into an equal number of TrustCo Bank Corp NY (TRST) common shares at an exercise price of $0.
What RSU awards linked to TRST stock does Michael M. Ozimek still hold?
After the reported transactions, Ozimek held RSUs tied to 2,215 and 3,057 TRST common shares. These RSUs vest in three equal annual installments beginning on the first anniversaries of their respective grant dates.
How do the reported TRST RSUs vest over time?
The filing explains that each RSU represents a right to receive one TRST share upon vesting, and the RSUs referenced vest in three equal annual installments starting on the first anniversary of their grant dates, such as November 21, 2024, November 19, 2025, and November 18, 2026, depending on the award.
What is the role of Michael M. Ozimek at TrustCo Bank Corp NY?
According to the filing, Michael M. Ozimek is an Officer of TrustCo Bank Corp NY, serving as Executive Vice President & CBO.
How did dividend reinvestment affect Ozimek’s TRST holdings?
The remarks section notes that additional TRST shares were acquired through participation in a dividend reinvestment and/or employee benefit plan with a dividend reinvestment feature.