4//SEC Filing
Sullivan Arthur 4
Accession 0001437749-25-035401
CIK 0001778784other
Filed
Nov 16, 7:00 PM ET
Accepted
Nov 17, 3:42 PM ET
Size
11.3 KB
Accession
0001437749-25-035401
Insider Transaction Report
Form 4
Sullivan Arthur
Director
Transactions
- Disposition to Issuer
Common Stock
2025-11-15−90,267→ 0 total - Disposition to Issuer
Common Stock
2025-11-15−10,000→ 0 total(indirect: By Spouse) - Disposition to Issuer
Stock Options
2025-11-15→ 0 totalExercise: $10.40From: 2021-11-24Exp: 2030-11-24→ Common Stock (25,500 underlying) - Disposition to Issuer
Stock Options
2025-11-15→ 0 totalExercise: $8.61From: 2017-11-17Exp: 2026-11-17→ Common Stock (24,608 underlying)
Footnotes (3)
- [F1]Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 5, 2025, by and among NB Bancorp, Inc., Needham Bank, 1828 MS, Inc., the Issuer, and BankProv (the "Merger Agreement"), at the Effective Time (as defined in the Merger Agreement), each issued and outstanding share of Common Stock of the Issuer was converted into the right to receive, at the election of the holder, either (i) 0.691 shares of NB Bancorp common stock (the "Stock Consideration") or (ii) $13.00 in cash (the "Cash Consideration"), subject to proration procedures to ensure that 50% of the shares of Provident Bancorp common stock are converted into the Stock Consideration (the "Merger Consideration").
- [F2]Pursuant to the Merger Agreement, all unvested shares of restricted stock automatically vested in full at the Effective Time, and were considered outstanding shares of common stock entitled to receive the Merger Consideration, net of all applicable withholding taxes.
- [F3]Pursuant to the Merger Agreement, each outstanding and unexercised option immediately prior to the Effective Time, whether vested or unvested, was cancelled in exchange for the right to receive an amount in cash equal to the product of (i) the excess, if any, of the Merger Consideration over the per share exercise price of such option, multiplied by (ii) the number of shares of Common Stock then subject to such option, net of all applicable withholding taxes.
Documents
Issuer
Provident Bancorp, Inc. /MD/
CIK 0001778784
Entity typeother
Related Parties
1- filerCIK 0001675613
Filing Metadata
- Form type
- 4
- Filed
- Nov 16, 7:00 PM ET
- Accepted
- Nov 17, 3:42 PM ET
- Size
- 11.3 KB