First Seacoast (FSEA) Director Jalbert James Cashes Out 40,389 Shares

What Happened
Director Jalbert James reported dispositions on 2026-10-01 totaling 40,389 shares (combination of issued shares and derivative securities). Four direct share dispositions totaled 20,796 shares; two derivative dispositions (options) totaled 19,593 underlying shares. Under the Merger Agreement, each issued common share was converted into the right to receive $17.25 in cash. Multiplying the total shares by $17.25 gives an approximate gross amount of $696,710.25; note that option conversions are paid as $17.25 less the option exercise price per footnote, so net cash from derivatives will be lower.

Key Details

• Transaction date and report date: 2026-10-01 (filed same day). Transaction code: D (Disposition to issuer).
• Breakdown: direct shares disposed = 8,260; 2,758; 4,471; 5,307 (total 20,796). Derivative items disposed = 9,343 and 10,250 (total 19,593).
• Cash consideration per issued share: $17.25 (per Merger Agreement, Footnote F1). Options converted to cash equal to $17.25 minus the option exercise price (Footnote F2).
• Price fields in the filing are listed as N/A because the transactions were conversions under the merger rather than open-market trades.
• Shares owned after the transactions are not specified in the excerpt provided.
• Filing appears timely (no late filing indicated).

Context
These filings reflect a corporate merger cash-out (shares and option rights converted into cash), not open-market sales. For retail investors, note that cash conversions under a merger are procedural outcomes of the deal terms and do not necessarily indicate the insider’s short-term view on the company. For the derivative items, final proceeds depend on each option’s exercise price and will be less than the gross $17.25-per-share figure.