Connolly Mark Leo 4

What Happened Mark Leo Connolly, EVP and Head of Credit Markets at The Bancorp, Inc. (TBBK), received a grant of 20,145 restricted stock units (RSUs) on 2026-02-09 and, per the Form 4 filed 2026-02-11, disposed of 9,890 shares on 2026-02-11 to satisfy tax withholding. The disposed shares were reported at $57.12 in the filing (sale prices actually ranged from $56.94 to $57.30), producing approximately $564,921 in proceeds. The RSU grant itself is recorded as an award (code A) and the disposal as tax withholding (code F).

Key Details

• Transaction dates: RSU grant on 2026-02-09; shares sold to cover taxes on 2026-02-11.
• Sale details: 9,890 shares sold; prices reported in the filing ranged $56.94–$57.30; filing lists $57.12 for the disposed shares and proceeds of $564,921.
• Grant details: 20,145 restricted stock units granted; each RSU converts to one share upon vesting and vests annually in three equal installments (footnote).
• Reason for sale: Footnote states shares were sold to pay taxes due upon RSU vesting (tax withholding, code F).
• Shares owned after transaction: Not disclosed in the filing.
• Filing timeliness: Form 4 filed 2026-02-11 for transactions reported through 2026-02-09—no late filing flag indicated.

Context

• These were RSUs (an award), not open-market purchases or option exercises. The sale was a tax-withholding sale tied to vesting, a routine corporate action that doesn’t necessarily reflect the insider’s view of the company’s stock.