Valley National (VLY) SEVP granted 32,935 restricted stock units in equity award
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Martocci Gino A. reported acquisition or exercise transactions in this Form 4 filing.
Valley National Bancorp senior executive Gino A. Martocci reported an award of 32,935 shares of common stock in the form of restricted stock units granted under the company’s 2023 Long Term Incentive Stock Plan. These RSUs are time-based and vest in three equal installments on each February 1 over the next three years.
After this grant, Martocci directly holds 85,606 common shares. The filing also reports additional indirect holdings of 45,822 shares through his wife and 1,835 shares attributed to his daughter, reflecting family-related ownership positions rather than new market purchases or sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Martocci Gino A.
Role
SEVP, Pres Commercial Banking
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 32,935 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 85,606 shares (Direct);
Common Stock — 45,822 shares (Indirect, Wife)
Footnotes (1)
- Restricted stock units (RSUs) granted under the Valley National Bancorp 2023 Long Term Incentive Stock Plan. The RSUs are time-based with three-year equal vesting, with vesting on each February 1 for the next three years. Adjusted for additional shares acquired through Valley National Bancorp's Dividend Reinvestment Plan.
FAQ
What did Valley National Bancorp (VLY) executive Gino Martocci report on this Form 4?
He reported an award of 32,935 restricted stock units of Valley National Bancorp common stock. The grant was made under the 2023 Long Term Incentive Stock Plan and represents a non-cash equity award, not an open-market stock purchase or sale.
How do the new RSUs for Gino Martocci at Valley National Bancorp (VLY) vest?
The 32,935 RSUs are time-based and vest in three equal installments. Vesting occurs on February 1 in each of the next three years, aligning the executive’s equity compensation with longer-term service and retention at Valley National Bancorp.
Was the Valley National Bancorp (VLY) Form 4 for Gino Martocci a stock purchase or sale?
No, the Form 4 reports a grant or award acquisition, not a market trade. The 32,935 shares were received as restricted stock units under the 2023 Long Term Incentive Stock Plan with no purchase price per share listed.
What plan governs the RSU grant to Gino Martocci at Valley National Bancorp (VLY)?
The award was granted under the Valley National Bancorp 2023 Long Term Incentive Stock Plan. This plan provides equity-based compensation, including restricted stock units, to align key executives’ interests with the company’s long-term performance.