DesMarteau Jacques Marc 4
Research Summary
AI-generated summary
Northwest Bancshares (NWBI) Chief Commercial Banking Officer Sells 2,160 Shares
What Happened
Jacques Marc DesMarteau, Chief Commercial Banking Officer of Northwest Bancshares (NWBI), had 2,160 shares disposed on 2026-06-22 as a tax-withholding action related to the vesting of restricted stock units (RSUs). The shares were recorded at $14.48 each for a total value of approximately $31,277. This was not an open-market sale for investment purposes but a withholding to satisfy tax obligations.
Key Details
- Transaction date and price: 2026-06-22, 2,160 shares at $14.48 each (total ~$31,277).
- Transaction type/code: F — shares withheld to satisfy tax withholding on RSU vesting.
- Shares owned after transaction: Not specified in the Form 4 filing.
- Footnotes in the filing:
- F1: Shares withheld to satisfy the reporting person's tax withholding obligation upon RSU vesting.
- F2: Notes dividend equivalent rights accrued on previously granted RSUs; dividend equivalents follow the same terms as the underlying RSUs.
- Filing timeliness: Form 4 filed 2026-06-24 for a 2026-06-22 transaction (filed within the typical 2-business-day window).
Context
This was a routine tax-withholding disposition tied to equity compensation vesting (cashless/withholding), not a discretionary sale. Such withholdings are common when RSUs vest and generally do not by themselves signal insider buying or selling sentiment.