Norwood Financial (NWFL) director granted 46 common shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Gifford Jeffrey S reported acquisition or exercise transactions in this Form 4 filing.
NORWOOD FINANCIAL CORP director Jeffrey S. Gifford received a stock grant rather than buying shares on the market. He was awarded 46 shares of common stock as director retainer shares under the 2024 Equity Incentive Plan at $29.40 per share, bringing his direct holdings to 26,592 shares. He also reports additional indirect holdings through a spouse, IRAs, custodial accounts and restricted stock awards, some of which vest in equal annual installments beginning on various December dates from 2022 through 2026, conditioned on continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
12 transactions reported
Mixed
12 txns
Insider
Gifford Jeffrey S
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 46 | $29.40 | $1K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 26,592 shares (Direct);
Common Stock — 76,082 shares (Indirect, Spouse)
Footnotes (1)
- Director Retainer Shares issued under the 2024 Equity Incentive Plan. Award vests in five equal installments beginning on December 14, 2022 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable. Award vests in five equal installments beginning on December 13, 2023 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable. Award vests in five equal installments beginning on December 12, 2024 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable. Award vests in three equal installments beginning on December 15, 2025 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable. Award vests in three equal installments beginning on December 15, 2026 and annually thereafter during such periods of continued service as an Employee, Outside Director or Director Emeritus, as applicable.
FAQ
What insider transaction did NWFL director Jeffrey S. Gifford report on this Form 4?
Director Jeffrey S. Gifford reported receiving a grant of 46 shares of Norwood Financial common stock. The shares were issued as director retainer stock under the company’s 2024 Equity Incentive Plan, rather than being purchased in the open market, reflecting routine equity-based compensation.
How do the NWFL restricted stock awards tied to Jeffrey S. Gifford vest over time?
The restricted stock awards vest in scheduled installments over multiple years. Footnotes state that certain grants vest in five equal installments beginning on December 14, 2022, December 13, 2023, and December 12, 2024, and others in three equal installments beginning December 15, 2025 and December 15, 2026.