Elizabeth M. Keogh - May 31, 2023 Form 4 Insider Report for Sterling Bancorp, Inc. (SBT)

Role: CHIEF LEGAL OFFICER
Signature: /s/ Elizabeth M. Keogh
Stock symbol: SBT
Transactions as of: May 31, 2023
Transactions value $: $499,998
Form type: 4
Date filed: 6/1/2023, 03:11 PM
Previous filing: Apr 25, 2023
Next filing: Jun 25, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SBT	Common Stock	Award	$500K	+100K		$4.99	100K	May 31, 2023	Direct	F1
holding	SBT	Common Stock						317	May 31, 2023	401(k) Plan	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents an award of restricted stock pursuant to the Sterling Bancorp, Inc. 2020 Omnibus Equity Incentive Plan (the "Plan"). The restricted stock will vest as follows: 33,066 shares on May 31, 2026, 33,066 shares on May 31, 2027, and 34,068 shares on May 31, 2028, subject to continued Service on each such date, or, if earlier, upon death or Disability or a Change of Control, all as specified in the Plan.
F2	The reporting person holds units in the issuer's unitized stock fund in the Sterling Bank & Trust 401(k) Plan (the "401(k) Plan"), consisting primarily of the issuer's Common Stock and the remainder in cash or cash equivalents. The number of shares in this row is an estimate of the number of shares of the issuer's Common Stock held in the unitized stock fund and attributed to the reporting person as a 401(k) Plan participant.

Content

Represents an award of restricted stock pursuant to the Sterling Bancorp, Inc. 2020 Omnibus Equity Incentive Plan (the "Plan"). The restricted stock will vest as follows: 33,066 shares on May 31, 2026, 33,066 shares on May 31, 2027, and 34,068 shares on May 31, 2028, subject to continued Service on each such date, or, if earlier, upon death or Disability or a Change of Control, all as specified in the Plan.

The reporting person holds units in the issuer's unitized stock fund in the Sterling Bank & Trust 401(k) Plan (the "401(k) Plan"), consisting primarily of the issuer's Common Stock and the remainder in cash or cash equivalents. The number of shares in this row is an estimate of the number of shares of the issuer's Common Stock held in the unitized stock fund and attributed to the reporting person as a 401(k) Plan participant.