NorthEast Community Bancorp (NECB) director sells 3,566 shares, retains options
Rhea-AI Filing Summary
NorthEast Community Bancorp director Charles Michael Cirillo reported an open-market sale of 3,566 shares of Common Stock at $22.94 per share on March 12, 2026. After this transaction, he holds 5,805 shares directly, plus additional indirect holdings through an IRA and stock awards.
He also retains stock options covering 28,961 shares of Common Stock at an exercise price of $12.40 per share, expiring on September 30, 2032. These options and stock awards vest in approximately equal annual installments beginning September 30, 2023, under the company’s 2022 Equity Incentive Plan.
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Insights
Director executes modest share sale while retaining sizable options and indirect holdings.
Director Charles Michael Cirillo sold 3,566 shares of NorthEast Community Bancorp Common Stock at $22.94 per share in an open-market transaction. Following the sale, he still owns 5,805 shares directly, along with indirect positions held via an IRA and stock awards.
He also maintains stock options over 28,961 shares at an exercise price of $12.40, expiring on September 30, 2032. Footnotes indicate these options and related stock awards vest in roughly equal annual installments starting September 30, 2023, suggesting the equity position is largely compensation-driven and remains significant after this sale.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 3,566 | $22.94 | $82K |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Stock Awards granted pursuant to the NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan vest in five equal annual installments commencing on September 30, 2023. Stock Options granted pursuant to the NorthEast Community Bancorp, Inc. 2022 Equity Incentive Plan vest in five approximately equal annual installments commencing on September 30, 2023.
FAQ
What insider transaction did NECB director Charles Michael Cirillo report?
Director Charles Michael Cirillo reported an open-market sale of 3,566 shares of NorthEast Community Bancorp Common Stock at $22.94 per share. The transaction occurred on March 12, 2026, and was categorized as a non-derivative sale.
What stock option position does Charles Michael Cirillo retain in NECB?
Cirillo retains stock options over 28,961 shares of NorthEast Community Bancorp Common Stock at an exercise price of $12.40 per share. These options expire on September 30, 2032 and vest in approximately equal annual installments beginning September 30, 2023.
How are NECB stock awards and options for Charles Michael Cirillo structured?
Stock awards and options were granted under the 2022 Equity Incentive Plan. Both vest in five roughly equal annual installments starting on September 30, 2023, aligning his compensation with multi-year performance and providing a staggered schedule for equity becoming fully vested.