Barrett Patrick Sean 4
Research Summary
AI-generated summary
OCFC CFO Patrick Barrett Withholds 5,643 Shares for Taxes
What Happened
- Patrick Sean Barrett, Senior EVP & CFO of OceanFirst Financial Corp (OCFC), had 5,643 shares withheld to satisfy tax withholding when restricted stock vested. The shares were valued at $18.48 each, totaling approximately $104,283. This was a tax-withholding disposition (transaction code F), not an open-market sale.
Key Details
- Transaction date: 2026-03-04; Price used for withholding: $18.48 per share.
- Number of shares withheld: 5,643; Total value: ~$104,283.
- Shares owned after the transaction: not specified in the provided filing excerpt.
- Footnote: Withholding was to satisfy tax liability on vesting RSUs; no shares were sold. The reported total includes unvested restricted stock (per footnote F1).
- Filing date: 2026-03-06 (filed promptly; not marked late).
Context
- This is a routine tax-withholding event tied to vesting of restricted stock awards (cashless withholding), which is administrative and typically does not indicate a change in insider sentiment. Transaction code F designates shares retained to cover tax obligations rather than a market sale.