Nelson Kelly R 4

What Happened Nelson R. Kelly, a director of MVB Financial Corp. (MVBF), had restricted stock units (RSUs) convert into 4,001 common shares on June 1, 2026 (reported on Form 4 filed 2026-06-03). The filing also shows a disposition of 3,902 shares the same day, leaving a net retention of 99 shares. Both transactions are reported as derivative conversions/exercises (transaction code M) at $0.00 per share, consistent with RSU vesting and issuance rather than a cash purchase or sale.

Key Details

• Transaction date: 2026-06-01; Form 4 filed: 2026-06-03 (appears timely).
• Acquired: 4,001 shares via conversion of derivative securities @ $0.00 (RSU vesting).
• Disposed: 3,902 shares via conversion/disposition @ $0.00.
• Net retained shares from the event: 99 shares (4,001 − 3,902).
• Footnotes: F1 – 100% of RSUs granted June 1, 2025 vested and shares issued. F2 – includes 99 dividend equivalent shares accrued since grant. F3 – RSUs were granted under the MVB Financial Corp. 2022 Stock Incentive Plan and vest 100% on the first anniversary of grant.
• Shares owned after the transaction: not specified in the provided filing summary.

Context This filing reflects RSU vesting and issuance (derivative conversion), not an open-market buy or a market sale. The simultaneous disposition of most issued shares is commonly seen in connection with vesting events (e.g., withholding or disposition to satisfy tax obligations), but the Form 4 here only reports the conversion and disposition amounts; it does not specify the reason for the disposition. No indication in the provided data that this is a 10% owner transaction or subject to a 10b5-1 plan.