VLY Form 4: 868,890-share trust split; 289,630 to exempt trust
Rhea-AI Filing Summary
Valley National Bancorp (VLY): Director Form 4 reports an internal trust reallocation on 10/29/2025. The Steans 1996 Family Trust’s 868,890 shares were divided into three sub‑trusts for no consideration (Transaction Code G). One‑third, 289,630 shares, moved to the Jennifer W. Steans 1996 Exempt Trust, where the reporting person serves as trustee. She no longer has beneficial ownership of the shares held by the two other sub‑trusts.
Following the transactions, reported beneficial holdings include examples such as 1,199,173 shares direct and 105,000 shares via a Roth IRA, alongside additional indirect positions through partnerships, trusts, spouse, and an LLC.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,158,520 shares
Net Sell
9 txns
Insider
Steans Jennifer W
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 868,890 | $0.00 | $0.00 |
| Gift | Common Stock | 289,630 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock (Roth IRA) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 0 shares (Indirect, Trustee (Steans 1996 Family Trust));
Common Stock — 289,630 shares (Indirect, Trustee (Jennifer W. Steans 1996 Exempt Trust));
Common Stock — 1,199,173 shares (Direct);
Common Stock (Roth IRA) — 105,000 shares (Direct);
Common Stock — 517,599 shares (Indirect, Held by partnership (Trilogy Investment Group, LLC));
Common Stock — 297,450 shares (Indirect, Held by partnership (PCB, LP));
Common Stock — 211,468 shares (Indirect, Spouse as Trustee (Jennifer W. Steans 1999 Descendants Trust));
Common Stock — 729,700 shares (Indirect, Spouse);
Common Stock — 461,325 shares (Indirect, By LLC)
Footnotes (1)
- F1. The 868,890 shares held by the Steans 1996 Family Trust (the "Family Trust") were divided, in accordance with the terms of the Family Trust, in equal parts and for no consideration into three sub-trusts of the Family Trust, including the Jennifer W. Steans 1996 Exempt Trust, for which the reporting person serves as trustee (the "1996 Exempt Trust"). As a result, one-third of the shares (289,630 shares) previously held in the Family Trust are now held in the 1996 Exempt Trust. The reporting person does not serve as a trustee or otherwise possess investment control over the two other sub-trusts, and as a result, she no longer possesses beneficial ownership of the registrant's shares held by those sub-trusts.
FAQ
What did VLY’s director report on Form 4?
A trust reallocation on 10/29/2025 in which 868,890 shares from the Steans 1996 Family Trust were split into three sub‑trusts for no consideration (Code G).
What does Transaction Code G indicate?
It indicates a transfer for no consideration, consistent with the trust division described.
What are examples of post‑transaction holdings?
Examples include 1,199,173 shares direct and 105,000 shares via a Roth IRA, plus other indirect holdings via partnerships, trusts, spouse, and an LLC.
Was any cash exchanged in the transfers?
No. The filing states the division occurred for no consideration, with a reported price of $0.
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