Earnings Feed
Start Free
|4Feb 13, 12:14 PM ET

Kouzilos Ioannis 4

Research Summary

AI-generated summary

Updated

Ponce Financial (PDLB) EVP Kouzilos Exercises Options, Sells Shares

What Happened Ioannis Kouzilos, EVP & Chief Lending Officer of Ponce Financial Group (PDLB), exercised 10,929 stock options on Feb 11, 2026 (code M) at several strike prices, paying about $125,519 in total exercise cost, and then disposed of those shares—selling 10,929 shares in an open-market transaction (code S) for $16.81 each, totaling $183,716. The exercises and the matching derivative dispositions indicate the exercised shares were sold immediately (cashless or simultaneous sale), yielding gross proceeds of roughly $183,716 and a pre-tax net difference of about $58,197 (proceeds minus exercise cost; excludes taxes/fees).

Key Details

  • Transaction date: Feb 11, 2026; Form 4 filed Feb 13, 2026 (timely).
  • Option exercises (total 10,929 shares acquired):
    • 2,929 shares @ $10.44 = $30,579
    • 4,000 shares @ $13.31 = $53,240
    • 2,000 shares @ $10.33 = $20,660
    • 2,000 shares @ $10.52 = $21,040
      Total exercise cash paid ≈ $125,519.
  • Open-market sale: 10,929 shares @ $16.81 = $183,716 (disposed).
  • Derivative disposals (M) in the filing match the exercised tranches, indicating immediate sale of exercised shares.
  • Shares owned after transaction: not specified in the excerpt provided.
  • Filing notes/footnotes of interest:
    • F1–F2: Restricted stock units (RSUs) with multi-year vesting schedules.
    • F3: ESOP dispositions since last report — all such shares were disposed via diversification election.
    • F4–F6: Various option/vesting schedule clarifications and a correction to previously reported option totals.

Context

  • This is an exercise-and-sell (commonly called a cashless exercise or immediate sale): the insider converted options into shares and sold those shares the same day. Such transactions often reflect option-lifecycle decisions (exercising vested options and capturing proceeds) rather than an outright directional bet on the stock.
  • The filing appears timely (transaction 2/11, filed 2/13). Net economic gain shown here (~$58k pre-tax) excludes brokerage fees and tax withholdings.