Brown Sam D. 4

What Happened
Sam D. Brown, Senior Executive Vice President and Chief Banking Officer of Amalgamated Financial Corp. (AMAL), had 4,004 performance stock units vest and be released on Jan 20, 2026, 1,524 of those shares were withheld to cover taxes (tax withholding), and subsequently sold 5,151 shares in an open-market transaction. The withheld shares were valued at approximately $48,814 (1,524 × $32.03). The open-market sale on Jan 21, 2026, was for 5,151 shares at $35.50 per share, totaling about $182,861. The initial award entry shows the vested award as an acquisition at $0 (typical for vested RSUs/PSUs converted to shares).

Key Details

• Transactions reported:
  • 2026-01-20 — Award/release of 4,004 performance stock units (acquired at $0) (Footnote F1).
  • 2026-01-20 — 1,524 shares withheld for tax/payment (disposed) at $32.03 — ~$48,814 (Footnote F2).
  • 2026-01-21 — Open-market sale of 5,151 shares at $35.50 — ~$182,861 (Footnote F3).
• Footnotes: F1 = PSUs vested Jan 1, 2026, approved for release Jan 20, 2026; F2 = shares withheld for taxes; F3 = sale executed under a Rule 10b5-1 trading plan adopted 01/15/2025; F4 = breakdown of other share components reported.
• Shares owned after the transactions: not specified in the supplied filing summary.
• Filing: Form 4 filed 2026-01-22 for transactions on Jan 20–21, 2026 — appears timely (Form 4 is typically due within two business days).

Context

• This sequence reflects a common pattern: performance awards vest, shares are issued, some are withheld for taxes, and the executive sells shares (here via a pre-established 10b5-1 plan). The initial award is not a cash purchase; the sale is a disposition of shares and is generally considered routine rather than a direct bullish purchase signal.
• The presence of a 10b5-1 plan means the sale was executed under a pre-set trading program, which can limit interpretation of intent.