Smith Jeremiah Zachary 4

What Happened Jeremiah Zachary Smith, President, CEO and Director of First Northern Community Bancorp (FNRN), exercised stock options on 2026-02-10 to acquire 16,454 shares at an exercise price of $5.14 per share (total consideration ~$84,574). To cover tax or withholding obligations, 5,897 previously held shares were surrendered/disposed at $14.34 each (value ~$84,563). The net result was an increase of 10,557 shares held by Smith.

Key Details

• Transaction date: February 10, 2026. Form filed Feb 12, 2026 (timely).
• Exercise: 16,454 shares acquired at $5.14 each; reported value ~$84,574.
• Withholding/payment: 5,897 shares disposed at $14.34 each to cover taxes/obligation; reported value ~$84,563.
• Net new shares: 16,454 acquired − 5,897 surrendered = +10,557 shares.
• Footnote: The swap is described as surrendering aged shares at $14.34 in exchange for option shares at $5.14 to net the 10,557 shares.
• Vesting note: The related stock options vest 0% at grant and 25% annually over four years (per footnote).
• Shares owned after the transaction were not provided in the supplied data.

Context This was an exercise of options (transaction code M) with shares withheld/disposed to satisfy tax or payment obligations (code F) — not an open-market sale. For retail investors, option exercises with shares withheld are routine and do not necessarily signal a buy/sell sentiment; the important takeaway is Smith increased his holding by 10,557 shares through the exercise.