Berninger David 4
4 · OCEANFIRST FINANCIAL CORP · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
OceanFirst (OCFC) Senior EVP David Berninger Receives Award
What Happened
David Berninger, Senior Executive Vice President & Chief Risk Officer of OceanFirst Financial Corp (OCFC), was granted a total of 27,688 restricted common shares on February 27, 2026. The awards were reported as acquisitions at $0.00 per share (total cash value $0) and are stock awards (transaction code A), not open-market purchases or sales.
Key Details
- Transaction date: February 27, 2026; Form 4 filed March 3, 2026.
- Grants: 11,076 restricted shares (F1) and 16,612 restricted shares (F2), totaling 27,688 shares. Price reported: $0.00 per share (award).
- Vesting/conditions:
- F1: Time-based restricted shares vest in four equal annual installments beginning March 1, 2027.
- F2: Performance-based restricted shares vest on March 1, 2029 at ~33%–100% depending on performance for 2026–2028, or are forfeited if threshold performance is unmet.
- Beneficial ownership increase is reported as resulting from exempt acquisitions under Rule 16b‑3(c) (F3).
- Shares owned after the transaction: not specified in the provided filing excerpt.
- Filing timeliness: transaction and filing dates are shown; no late‑filing flag (L) indicated in the provided data.
Context
Restricted-share awards are a form of compensation intended to align executive incentives with shareholder value; they are not cash purchases and do not directly signal a personal buy/sell decision. Time- and performance-based vesting means these shares may not convert into transferable stock unless vesting conditions are met.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-27+11,076→ 86,637 total - Award
Common Stock
[F2]2026-02-27+16,612→ 103,249 total
- 361(indirect: By ESOP)
Common Stock
[F3]
Footnotes (3)
- [F1]Restricted shares awarded. Such shares vest in four equal annual installments beginning on March 1, 2027. Total includes other restricted shares that vest in the future.
- [F2]Restricted shares awarded. Such shares vest on March 1, 2029 at approximately 33% to 100% depending on the attainment of defined performance criteria for the three year period from January 1, 2026 through December 31, 2028, or are forfeited if threshold performance is not met. Total includes other unvested restricted shares that vest in the future.
- [F3]This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to Rule 16b-3(c).