Richard J. Cantele Jr - Aug 10, 2023 Form 4 Insider Report for SALISBURY BANCORP, INC. (SAL)

Role
President and CEO, Director
Signature
/s/ Richard J. Cantele, Jr.
Stock symbol
SAL
Transactions as of
Aug 10, 2023
Transactions value $
-$127,039
Form type
4
Date filed
8/14/2023, 02:53 PM
Previous filing
Mar 24, 2023
Next filing
Aug 24, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SAL Common Stock Award $0 +4.23K +7.05% $0.00 64.2K Aug 10, 2023 Direct F1
transaction SAL Common Stock Tax liability -$34.8K -1.27K -1.98% $27.45 62.9K Aug 10, 2023 Direct F1
transaction SAL Common Stock Award $0 +11.2K +17.8% $0.00 74.1K Aug 10, 2023 Direct F2
transaction SAL Common Stock Tax liability -$92.2K -3.36K -4.53% $27.45 70.8K Aug 10, 2023 Direct F2
transaction SAL Common Stock Disposed to Issuer -70.8K -100% 0 Aug 11, 2023 Direct F3
transaction SAL Common Stock Disposed to Issuer -4.07K -100% 0 Aug 11, 2023 By ESOP F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Richard J. Cantele Jr is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Award of performance-based restricted stock units (PBRSUs) pursuant to the Issuer's 2017 Long Term Incentive Plan. 3,000 units were granted on 6/23/21 and 3,000 units were granted on 2/28/22, subject to three-year cliff vesting and the satisfaction of certain performance criteria. A pro-rata portion of the shares (2,613 and 1,613 respectively) vested on 8/10/2023, subject to accelerated vesting upon certain change in control events.
F2 Award of restricted stock pursuant to the Issuer's 2017 Long Term Incentive Plan. 5,600 shares were granted on 5/19/21 and 5,600 shares were granted on 2/28/22, subject to three-year cliff vesting. The shares vested on 8/10/2023, subject to accelerated vesting upon certain change in control events.
F3 Each share of Issuer common stock was converted into and became exchangeable for the right to receive 0.7450 shares of NBT Bancorp Inc. ("Buyer") common stock.

Remarks:

This "Exit" Form 4 is voluntarily filed to report that the Reporting Person is no longer serving in the role as the Company's director and executive officer, effective as of August 11, 2023, and therefore is no longer subject to Section 16 reporting for Salisbury.