Avidia Bancorp Director Saul Kennedy Receives Stock Awards

What Happened
Saul Kennedy, a director of Avidia Bancorp (AVBC), received two awards on 2026-09-16: 20,076 shares of restricted stock and a derivative award covering 50,190 shares (recorded at $0 per share, i.e., granted rather than purchased). The transaction is reported as an award/grant (code A); no cash was paid for these awards in the filing.

Key Details

• Transaction date: 2026-09-16; filing date: 2026-09-17 (appears timely).
• Price: $0.00 per share (award/grant).
• Shares granted: 20,076 restricted stock shares; 50,190 derivative shares (stock option award per footnote).
• Shares owned after the transaction: not reported in the information provided.
• Vesting: Restricted shares vest at 20% per year beginning 9/16/2027 (Footnote F1). Stock options vest at 20% per year beginning 9/16/2027 (Footnote F2) — effectively a five-year annual vesting schedule.
• No tax-withholding sales, cashless exercise, or immediate dispositions are reported in this filing.
• Transaction code: A = award/grant; the derivative award corresponds to stock options (per footnote).

Context
These awards are compensation-style grants rather than purchases or sales and will vest over time, so they are not immediately liquid. Grants are common for directors and do not by themselves indicate an insider's short-term market view, though they increase potential future insider ownership if vesting conditions are met. Monitor future Form 4s for vesting-related transactions or any sales.