Avidia Bancorp (AVBC) Director Michael O. Gilles Receives Award

What Happened

• Michael O. Gilles, a director of Avidia Bancorp (AVBC), received equity awards on 2026-09-16: 20,076 restricted shares and a derivative award of 50,190 shares (stock options) at $0.00 per share. The Form 4 lists these as grant/award transactions (code A); no cash was paid at grant.

Key Details

• Transaction date: 2026-09-16; Form 4 filed: 2026-09-17 (timely filing).
• Award amounts: 20,076 restricted stock shares; 50,190 derivative option shares (total 70,266 shares-equivalent granted).
• Price: $0.00 listed for both grants (typical for compensation grants—no cash exchanged at grant).
• Vesting: Restricted stock vests 20% per year and stock options vest 20% per year, both commencing September 16, 2027 (five-year vesting at 20%/yr). (Footnotes F1 and F2)
• Shares owned after transaction: not specified in the information provided in this summary.
• Transaction code: A = Award/Grant. This was a grant (compensation) not an open-market purchase or sale.

Context

• The derivative award represents stock options (rights to acquire shares later); these were granted, not exercised, and therefore do not result in immediate share sales or purchases.
• Grants are common compensation for directors and don’t necessarily signal the insider’s near-term market view. The economic value to the insider depends on future vesting and, for options, future exercise terms and market price.