Valley National Bancorp (VLY) director granted 8,121 restricted stock units in Form 4 filing
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Steans Jennifer W reported acquisition or exercise transactions in this Form 4 filing.
VALLEY NATIONAL BANCORP director Jennifer W. Steans reported an equity award in the company’s common stock. She received 8,121 restricted stock units under the Valley National Bancorp 2023 Incentive Compensation Plan, which vest in one year, subject to certain exceptions.
Following this award, she directly holds 1,207,294 common shares, including this grant, plus additional indirect holdings through a Roth IRA, trusts, LLCs, her spouse, and partnerships with separate reported share amounts for each entity.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Steans Jennifer W
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 8,121 | $0.00 | -- |
| holding | Common Stock (Roth IRA) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 1,207,294 shares (Direct, null);
Common Stock (Roth IRA) — 105,000 shares (Direct, null);
Common Stock — 517,599 shares (Indirect, Held by partnership (Trilogy Investment Group, LLC))
Footnotes (1)
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Key Figures
RSU grant size: 8,121 shares
Direct holdings after award: 1,207,294 shares
Trust holdings (1996 Exempt Trust): 289,630 shares
+5 more
8 metrics
RSU grant size
8,121 shares
Restricted stock units awarded; vests in one year
Direct holdings after award
1,207,294 shares
Common stock directly held following the RSU grant
Trust holdings (1996 Exempt Trust)
289,630 shares
Indirect ownership as trustee of 1996 Exempt Trust
LLC indirect holdings
461,325 shares
Indirect ownership by LLC associated with reporting person
Spousal holdings
729,700 shares
Indirect ownership reported as held by spouse
Descendants trust holdings
211,468 shares
Indirect ownership via 1999 Descendants Trust with spouse as trustee
Partnership holdings (PCB, LP)
297,450 shares
Indirect ownership held by partnership PCB, LP
Roth IRA holdings
105,000 shares
Direct ownership of common stock in a Roth IRA
Key Terms
Restricted stock units, 2023 Incentive Compensation Plan, indirect, Roth IRA, +1 more
5 terms
Restricted stock units financial
"Restricted stock units awarded under the Valley National Bancorp 2023 Incentive Compensation Plan."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
2023 Incentive Compensation Plan financial
"Restricted stock units awarded under the Valley National Bancorp 2023 Incentive Compensation Plan."
indirect financial
"ownership_type": "indirect""
Roth IRA financial
"security_title": "Common Stock (Roth IRA)""
A Roth IRA is a retirement savings account you fund with money that’s already been taxed, and withdrawals taken in retirement under the account rules are tax-free. It matters to investors because it shifts the tax bill to today instead of retirement, potentially increasing after-tax income later—think of it like paying for a lifetime subscription now so you can use it without extra charges in the future—helpful for long-term tax planning and flexibility.
Grant, award, or other acquisition financial
"transaction_code_description": "Grant, award, or other acquisition""
FAQ
What insider transaction did VALLEY NATIONAL BANCORP (VLY) report for Jennifer W. Steans?
VALLEY NATIONAL BANCORP reported that director Jennifer W. Steans received an equity award. She was granted 8,121 restricted stock units of common stock, classified as a grant or award acquisition, rather than an open-market purchase or sale.
What are the terms of the restricted stock units granted to Jennifer W. Steans at VLY?
The 8,121 restricted stock units were awarded under the Valley National Bancorp 2023 Incentive Compensation Plan. According to the filing footnote, this award vests in one year, subject to certain exceptions specified in the plan’s terms.
Is the restricted stock unit grant to Jennifer W. Steans part of a specific VLY compensation plan?
Yes. The 8,121 restricted stock units were granted under the Valley National Bancorp 2023 Incentive Compensation Plan. This indicates the award is part of the company’s structured incentive program for eligible participants, rather than an individual negotiated transaction.