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OCEANFIRST FINANCIAL CORP·4

Mar 3, 5:02 PM ET

Barrett Patrick Sean 4

Research Summary

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OceanFirst (OCFC) CFO Patrick Barrett Receives Restricted Shares; Some Forfeited

What Happened Patrick S. Barrett, Senior Executive Vice President & Chief Financial Officer of OceanFirst Financial Corp. (OCFC), was awarded a total of 38,068 restricted shares (15,228 and 22,840 shares) on Feb 27, 2026 at $0.00 per share, and on Mar 1, 2026 18,972 shares were disposed to the issuer at $0.00 (a forfeiture of unvested performance-based restricted shares). No cash was exchanged in these transactions; the awards are equity grants, and the disposition represents forfeiture rather than an open-market sale.

Key Details

  • Transaction dates and prices:
    • 2026-02-27: Awarded 15,228 shares @ $0.00 (acquisition)
    • 2026-02-27: Awarded 22,840 shares @ $0.00 (acquisition)
    • 2026-03-01: Disposition to issuer of 18,972 shares @ $0.00 (forfeiture)
  • Total newly awarded on Feb 27: 38,068 restricted shares; forfeited on Mar 1: 18,972 shares.
  • Shares owned after these transactions: not specified in the provided excerpt of the filing.
  • Footnotes of interest:
    • F1: One grant vests in four equal annual installments beginning Mar 1, 2027.
    • F2: One grant vests on Mar 1, 2029 at ~33%–100% depending on performance for 2026–2028.
    • F3: The Mar 1 disposition reflects forfeiture of performance-based restricted shares awarded Feb 28, 2023 for failure to meet performance conditions.
    • F4: The form reflects increases in beneficial ownership from exempt acquisitions under Rule 16b-3(c).
  • Filing: Form filed 2026-03-03 (period of report 2026-02-27); the filing shows these award/forfeiture events and does not indicate a late filing in the provided data.

Context

  • These transactions are equity awards and a forfeiture tied to time- and performance-based vesting conditions; awards at $0.00 are common for restricted stock grants and do not reflect open-market purchases or sales.
  • For retail investors, awards signal executive compensation actions rather than direct buying or selling for cash. The forfeiture simply means performance conditions were not met for a prior grant and does not indicate an open-market disposition.