Distler Stephen 4

What Happened

• Stephen Distler, a director of Princeton Bancorp (BPRN), had 1,700 restricted stock units (RSUs) vest and be converted into 1,700 shares on 2026-01-22; those 1,700 shares were immediately disposed (sold). The Form 4 reports $0.00 per-share exercise/conversion price because these were derivative RSU settlements. Separately, on 2026-01-21 he was granted 2,250 RSUs (recorded as an award) at $0.00; those RSUs vest in full on the first anniversary of the grant.

Key Details

• Transaction dates and types:
  • 2026-01-21: Grant of 2,250 RSUs (Award, code A) — $0.00 per unit (derivative award).
  • 2026-01-22: Conversion/exercise of 1,700 RSUs into 1,700 common shares (code M, $0.00) and simultaneous disposition of those 1,700 shares (code M, $0.00).
• Net effect: The conversion and immediate sale of 1,700 shares results in no net increase in common shares held from that vesting event; plus a new award of 2,250 RSUs that vest on 2027-01-21.
• Footnotes:
  • F1: The 1,700 shares were acquired pursuant to vesting of an RSU award that expired/vested on 01/22/2026.
  • F2: Each RSU represents the contingent right to receive either one share or the cash equivalent; the newly granted RSUs vest in full on the first anniversary of the grant.
• Filing timeliness: The Form 4 was filed 2026-01-26. The 01/22 transactions were reported within the two business-day window (timely); the 01/21 grant appears to have been reported after the two-business-day deadline and thus may be late.

Context

• These transactions appear to be compensation-related (vesting and settlement of RSUs) rather than open-market purchases or discretionary insider selling; the immediate sale of vested RSU shares is commonly done to cover taxes or convert compensation to cash and does not necessarily indicate a personal market view. The filing lists $0.00 for the derivative entries (standard for RSU vesting/exercise); the Form 4 does not disclose gross sale proceeds in these entries.