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MVB FINANCIAL CORP·4

May 5, 8:51 PM ET

Giorgio Michael Louis 4

Research Summary

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Updated

MVB Financial (MVBF) CIO/COO Giorgio Louis Receives RSUs; 947 Withheld

What Happened

  • Giorgio Michael Louis, Chief Investment Officer and Chief Operating Officer of MVB Financial (MVBF), had multiple restricted stock unit (RSU) transactions on May 1, 2026. He was issued/received a total of 17,018 shares from RSU vesting and new RSU grants (1,267 + 1,359 + 4,064 + 10,328). To cover tax obligations, 947 shares were withheld at $25.68 per share for a tax payment of $24,319; an additional 2,514 shares appear as conversions/exercises that were disposed (1,189 + 1,325) as part of the same activity. These transactions are vesting/award-related, not open-market purchases or sales.

Key Details

  • Transaction date: May 1, 2026; Form 4 filed May 5, 2026 (timely).
  • Actions reported: multiple exercise/conversions of derivative securities (code M), grant/award acquisitions (code A), and tax withholding/disposition (code F).
  • Share counts and values:
    • Shares issued/received (acquired): 1,267; 1,359; 4,064; 10,328 (all at $0, RSU/derivative settlement).
    • Shares disposed/withheld: 947 shares withheld for taxes at $25.68 = $24,319; plus 1,189 and 1,325 shares shown as disposed in derivative conversions (no cash value listed).
    • Net from these entries: +13,557 shares (17,018 acquired − 3,461 disposed/withheld).
  • Shares owned after the transaction: not provided in the excerpt of the filing.
  • Footnotes: vesting includes 1/3 of time-based RSUs from May 1, 2024 and May 1, 2025 grants (F1, F3); some shares include dividend equivalents (78 and 34 shares; F2, F4). RSUs are under the 2022 Stock Incentive Plan with a three-year graded vesting schedule (F5). New RSUs awarded May 1, 2026 vest over a three‑year period beginning May 1, 2027 (F6).
  • Filing timeliness: Filed May 5, 2026 for May 1 transactions — appears timely (Form 4 due within two business days).

Context

  • These entries reflect RSU vesting/settlement and related tax-withholding rather than an open-market sale or purchase. The withheld 947 shares represent shares surrendered to satisfy tax obligations (a routine administrative step), not a market sale indicating investment intent. Derivative code M indicates conversion/exercise of derivative securities (here RSU/award settlements).