Rodrigues Michael J 4

What Happened Michael J. Rodrigues, EVP & Chief Credit Officer of Oak Valley Bancorp (OVLY), received an award of 784 restricted shares on 2026-02-27 and earlier acquired 1,710 shares on 2025-12-31 (401(k)/discretionary). On 2026-02-27 a total of 916 shares were surrendered to satisfy tax withholding related to vesting of prior restricted stock grants (119 + 107 + 88 + 409 + 103 + 90). No cash prices are reported for these restricted/plan transactions. Net across these reported transactions Rodrigues increased his holding by 1,578 shares (1,710 + 784 − 916).

Key Details

• Primary dates: 2025-12-31 (1,710 shares acquired via discretionary/401(k) plan) and 2026-02-27 (784-share restricted stock grant; 916 shares surrendered for tax withholding).
• Prices/values: N/A — these were award/plan transactions and tax-withholding dispositions, not open-market trades.
• Transaction codes: A = award/grant (784 shares); F = shares surrendered to satisfy tax liability (916 shares total); I = discretionary purchase (1,710 shares).
• Footnotes: 401(k) purchases and plan contributions occur under company plans and/or 10b5-1 purchase arrangements (F1, F2). The withheld shares satisfied tax liabilities for restricted stock issued 2/28/2021–2/28/2025 that vested on 2/27/2026 (F3–F7). The 784-share award is restricted stock under the Stock Incentive Plan (F8, F9).
• Vesting: The newly awarded restricted shares vest 20% annually on 2/28/2027, 2/28/2028, 2/28/2029, 2/28/2030 and 2/28/2031 (F10).
• Filing: Form 4 filed 2026-03-03 covering transactions through 2026-02-27; the filing shows plan/withholding activity, not open-market selling.

Context These transactions are largely plan-driven: (1) contributions/acquisitions through a 401(k)/discretionary plan and (2) restricted stock award plus standard share withholding to cover taxes when earlier restricted grants vested. Shares surrendered for tax withholding (code F) are routine and do not indicate an open-market sale.