Mark R. DeFazio - Feb 29, 2024 Form 4 Insider Report for Metropolitan Bank Holding Corp. (MCB)

Role
President and CEO, Director
Signature
/s/ Frederik Erikson, pursuant to power of attorney
Stock symbol
MCB
Transactions as of
Feb 29, 2024
Transactions value $
-$1,688,554
Form type
4
Date filed
3/4/2024, 09:35 PM
Previous filing
Jul 14, 2023
Next filing
Jul 24, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MCB Common Stock Award $0 +20.8K +10.34% $0.00 222K Feb 29, 2024 Direct F1, F2, F3
transaction MCB Common Stock Tax liability -$1.2M -29.3K -13.19% $40.82 193K Feb 29, 2024 Direct F2, F3, F4, F5
transaction MCB Common Stock Award $0 +12.2K +6.31% $0.00 205K Mar 1, 2024 Direct F2, F3, F6
transaction MCB Common Stock Award $0 +24.3K +11.87% $0.00 229K Mar 1, 2024 Direct F2, F3, F7
transaction MCB Common Stock Tax liability -$493K -13K -5.66% $38.00 216K Mar 1, 2024 Direct F2, F3, F4, F8
holding MCB Common Stock 20.5K Feb 29, 2024 By LLC
holding MCB Common Stock 3.1K Feb 29, 2024 By 401(k)
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 1, 2022, the Reporting Person was granted 20,800 restricted stock units (the "2022 RSUs") which were to vest, if at all, subject to the satisfaction of certain performance criteria. The performance criteria for the fiscal year ended December 31, 2023 were met, resulting in the vesting of the 2022 RSUs.
F2 Includes restricted stock units granted on February 23, 2022 that vest at a rate of 33.3% per year commencing on March 1, 2023.
F3 Includes restricted stock units granted on March 1, 2023 that vest at a rate of 33.3% per year commencing on March 1, 2024.
F4 These shares of common stock were not sold in an open-market transaction.
F5 Upon delivery to the Reporting Person of the shares of common stock underlying the 2022 RSUs as well as certain other shares of common stock that were previously disclosed as having vested, but which were delivered simultaneously with the shares underlying the 2022 RSUs, 29,290 shares were withheld by Metropolitan Bank Holding Corp. (the "Company") in respect of tax withholding obligations.
F6 Restricted stock units granted on March 1, 2024 that vest at a rate of 33.3% per year commencing on March 1, 2025.
F7 Restricted stock units granted on March 1, 2024 that vest 100% on March 1, 2025.
F8 Upon delivery to the Reporting Person of certain shares of common stock that were previously disclosed as having been granted, 12,972 shares were withheld by the Company in respect of tax withholding obligations.

Remarks:

Exhibit List - Exhibit 24 - Power of Attorney