Magier Eugene M 4

What Happened
Eugene M. Magier, a director of NorthEast Community Bancorp, Inc. (NECB), disposed of a total of 13,154 shares of NECB common stock on July 15, 2026. The Form 4 reports two "other disposition" (code J) entries: 9,608 shares and 3,546 shares, each recorded at $0.00 per share (total reported proceeds $0). Footnote F1 states these shares were transferred to his ex‑spouse pursuant to a court‑approved separation agreement; the reporting person no longer reports beneficial ownership of securities owned by his ex‑spouse.

Key Details

• Transaction date: 2026-07-15 (filed on 2026-07-17) — filing appears timely (within the two-business-day Form 4 window).
• Reported dispositions: 9,608 shares @ $0.00 and 3,546 shares @ $0.00 (total 13,154 shares; reported proceeds $0).
• Footnote F1: transfer to ex‑spouse under court-approved separation agreement; the insider no longer reports beneficial ownership of shares owned by the ex‑spouse.
• Footnote F2: the filing accounts for a decrease of 1 share from the prior report due to rounding down of fractional shares.
• Footnotes F3/F4: describe vesting schedules for stock awards and options under the company 2022 Equity Incentive Plan (not directly related to these transfers).
• Shares owned after the transaction are not explicitly listed in the summary provided; the filer indicates they no longer report shares owned by the ex‑spouse.

Context
This was a transfer related to a personal legal separation, not an open‑market sale or purchase. Transfers under divorce or separation agreements are typically administrative and do not necessarily reflect the insider’s view of the company’s prospects. The $0.00 price and code J on the Form 4 are consistent with a non‑cash transfer rather than a market sale.