Director gains 259 Western New England (NASDAQ: WNEB) shares in lieu of cash
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Western New England Bancorp director Lisa G. McMahon acquired additional company stock through a compensation-related program. On the reported date, she received 259 shares of common stock at $14.2988 per share, bringing her direct holdings to 60,446 shares.
According to the footnote, these shares were purchased in the open market on her behalf under the Company’s Non-Employee Director Stock Election Program, using director compensation that would otherwise have been paid in cash.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
McMahon Lisa G
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 259 | $14.2988 | $4K |
Holdings After Transaction:
Common Stock — 60,446 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Shares acquired: 259 shares
Purchase price: $14.2988 per share
Post-transaction holdings: 60,446 shares
3 metrics
Shares acquired
259 shares
Common Stock, Non-Employee Director Stock Election Program
Purchase price
$14.2988 per share
Open-market purchases on behalf of director
Post-transaction holdings
60,446 shares
Direct ownership after acquisition
Key Terms
Non-Employee Director Stock Election Program, open market, grant, award, or other acquisition
3 terms
Non-Employee Director Stock Election Program financial
"pursuant to the Company's Non-Employee Director Stock Election Program using compensation otherwise payable in cash"
open market financial
"Represents shares purchased in the open market on behalf of the reporting person"
An open market is a system where buying and selling of goods, services, or financial assets happen freely without restrictions or special controls. For investors, it means they can trade assets easily and quickly, which helps determine fair prices based on supply and demand. This environment encourages transparency and competition, making it easier to buy or sell with confidence.
grant, award, or other acquisition financial
"transaction_code_description": "Grant, award, or other acquisition"
FAQ
What insider transaction did WNEB director Lisa G. McMahon report?
Lisa G. McMahon reported acquiring 259 shares of Western New England Bancorp common stock. The shares were obtained under the Non-Employee Director Stock Election Program, where director fees are taken in stock instead of cash and purchased in the open market on her behalf.
Was Lisa McMahon’s WNEB Form 4 transaction an open-market purchase?
The shares were purchased in the open market, but not as a discretionary buy. They were acquired under the Company’s Non-Employee Director Stock Election Program, which uses director compensation that would otherwise be paid in cash to purchase stock on the director’s behalf.
What is Western New England Bancorp’s Non-Employee Director Stock Election Program?
The Non-Employee Director Stock Election Program allows directors to receive compensation in stock instead of cash. Under this program, Western New England Bancorp purchases shares in the open market on a director’s behalf using amounts that otherwise would have been paid as cash fees.