First Seacoast (FSEA) SVP/CIO Paul Nee Sells Shares

What Happened
Paul Nee, SVP and Chief Investment Officer of First Seacoast Bancorp (FSEA), reported dispositions to the issuer on 2026-10-01 totaling 45,787 shares. The filing shows five disposition entries (7,478; 6,758; 1,051; 15,000; 15,500). Per the Merger Agreement, each share was converted into the right to receive $17.25 in cash; the gross value of the 45,787 shares at $17.25 is approximately $789,826. Two of the disposition lines are derivative items (options) that were converted/settled under the merger agreement and will be paid in cash net of any option exercise price.

Key Details

• Transaction date: 2026-10-01 (all entries) — reported on Form 4 filed 2026-10-01 (appears timely).
• Transaction type/code: Disposition to issuer (D).
• Individual disposition lines: 7,478; 6,758; 1,051; 15,000 (derivative); 15,500 (derivative). Total = 45,787 shares.
• Price / proceeds: Form lists N/A for per-line prices; Merger Agreement provides $17.25 per share (F1) — total ≈ $789,826. Derivative items (F3) are settled for $17.25 less the option exercise price, so their net cash differs.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes: F1 (each share converted to $17.25 cash under the merger); F3 (stock options converted to cash consideration less exercise price); F2 (some transactions not required to be reported under Section 16).
• Filing timeliness: Reported same day as the transaction date (no late filing indicated in the provided data).

Context
These dispositions were part of a corporate merger (Merger Agreement dated May 4, 2026, involving Cambridge Savings Bank) that converts outstanding shares and certain options into cash — not open-market sales. Dispositions tied to merger consideration are routine corporate actions and do not alone indicate the insider’s sentiment about the company’s future; purchases generally carry more signal value for retail investors.