Lebel Joseph III 4

What Happened

• Joseph Lebel, Senior EVP, COO and Director of OceanFirst Financial Corp (OCFC), was granted a total of 65,756 restricted shares (26,304 and 39,452 shares on Feb 27, 2026) and had 31,303 unvested performance-based shares disposed to the issuer (forfeited) on Mar 1, 2026. All transactions were reported at $0.00 per share (standard for equity awards and forfeitures), so no cash changed hands.

Key Details

• Transaction dates and prices:
  • 2026-02-27: Award of 26,304 restricted shares @ $0.00
  • 2026-02-27: Award of 39,452 restricted shares @ $0.00
  • 2026-03-01: Disposition to issuer of 31,303 shares (forfeiture) @ $0.00
• Shares awarded total: 65,756; shares forfeited: 31,303.
• Shares owned after these transactions: not reported in the provided filing details.
• Footnotes (from the filing):
  • F1: The 26,304-type restricted shares vest in four equal annual installments beginning March 1, 2027.
  • F2: The 39,452-type restricted shares are performance-based and vest on March 1, 2029 at ~33%–100% depending on performance for 2026–2028; they can be forfeited if threshold performance is not met.
  • F3: The 31,303-share disposition represents forfeiture of unvested performance shares awarded Feb 28, 2023 for failure to meet performance conditions.
  • F4: The form reflects increases in beneficial ownership from exempt acquisitions under Rule 16b-3(c).
• No indication in the provided data that this filing was late.

Context

• These were equity compensation events (grants and a forfeiture), not open-market trades. Restricted-share awards are common executive compensation and typically vest over time or upon meeting performance goals; they don't indicate an immediate cash investment or sale by the insider.
• The forfeiture simply means previously awarded performance-based shares did not meet required targets and were returned to the issuer; it is a compliance outcome of plan rules, not an open-market sale.