BARRETT RUSSELL 4

What Happened

• Barrett Russell, COO of Valley National Bancorp (VLY), exercised 90,537 derivative awards and immediately sold the 90,537 shares. The exercise required $766,848 (90,537 shares × $8.47 exercise price); the subsequent open-market sale generated $1,225,871 (weighted avg price $13.54). Net proceeds from the roundtrip were about $459,023.

Key Details

• Transaction date: 2026-04-27 (Form filed 2026-04-28).
• Exercise: 90,537 shares at $8.47 per share = $766,848 (transaction code M).
• Sale: 90,537 shares sold in open market at a weighted-average $13.54 per share = $1,225,871 (transaction code S). Footnote: sale prices ranged from $13.53 to $13.55; weighted average reported.
• Derivative conversion line: same 90,537 shares reported as disposed at $0 (typical reporting of option conversion) (transaction code M).
• Shares owned after the transaction: not specified in the provided filing.
• Filing timeliness: Form 4 was filed the day after the transactions (appears timely based on provided dates).

Context

• This was a same-day exercise-and-sell (cashless-style) transaction: the insider exercised options and sold the acquired shares the same day, which is often done to cover exercise costs, taxes, or diversify—it's a routine liquidity event rather than a clear bullish signal.
• The footnote clarifies the sale was done in multiple trades at prices between $13.53 and $13.55; the filer can provide a per-trade breakdown on request.