Miles Allen J III 4

What Happened

• Miles Allen J III, Executive Vice President & Chief Lending Officer of Western New England Bancorp (WNEB), was granted 4,246 shares on 2026-03-06. The grant is reported at $0.00 per share (award/acquisition), so no cash was paid for the shares.
• This filing records an equity award (not an open-market purchase or sale). Awards are typically compensation-related and do not signal an immediate cash investment by the insider.

Key Details

• Transaction date and price: 2026-03-06 — 4,246 shares acquired @ $0.00 per share.
• Shares owned after transaction: The filing does not list a single total beneficial-ownership figure; it reports 9,912 unvested time‑based incentive shares included in direct holdings and 75 shares held by his son in an UTMA account.
• Vesting schedule (noted in filing): The 9,912 unvested time-based incentive shares are scheduled to vest as 5,202 on 12/31/26, 3,294 on 12/31/27 and 1,416 on 12/31/28 (per footnote).
• Related-party holding: 75 shares are held by his son in an UTMA (per footnote).
• Timeliness: The Form 4 was filed on 2026-03-10 for the 2026-03-06 transaction, which appears to be timely (filed within the standard two business-day window).

Context

• This was an award/grant of shares as compensation, not a market purchase or sale. Such grants commonly vest over time and are used for retention or performance incentives.
• The presence of unvested shares with scheduled vesting dates means these shares are subject to future vesting conditions and are not immediately liquid unless specified otherwise.
• Holdings in an UTMA are indirect family holdings and are disclosed separately from the insider’s direct holdings.