Dennis Pollack - Jul 1, 2022 Form 4 Insider Report for PRUDENTIAL BANCORP, INC. (PBIP)

Role
President and CEO, Director
Signature
/s/ Dennis Pollack
Stock symbol
PBIP
Transactions as of
Jul 1, 2022
Transactions value $
$0
Form type
4
Date filed
7/6/2022, 03:50 PM
Next filing
Sep 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PBIP Common Stock Disposed to Issuer -71.6K -100% 0 Jul 1, 2022 Direct F1
transaction PBIP Common Stock Disposed to Issuer -13.3K -100% 0 Jul 1, 2022 By 401(k) Plan F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PBIP Stock Option Disposed to Issuer -80K -100% 0 Jul 1, 2022 Common Stock 80K $18.46 Direct F2
transaction PBIP Stock Option Disposed to Issuer -10K -100% 0 Jul 1, 2022 Common Stock 10K $14.42 Direct F3
transaction PBIP Stock Option Disposed to Issuer -30K -100% 0 Jul 1, 2022 Common Stock 30K $12.23 Direct F3
transaction PBIP Stock Option Disposed to Issuer -11.9K -100% 0 Jul 1, 2022 Common Stock 11.9K $18.16 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Dennis Pollack is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Disposed pursuant to a merger agreement dated March 1, 2022 between Prudential Bancorp, Inc. ("Prudential") and Fulton Financial Corporation ("Fulton") pursuant to which each share of Prudential common stock was entitled to receive (i) 0.7974 of a share of Fulton common stock and (ii) $3.65 in cash. The merger was effective July 1, 2022.
F2 Options were cancelled without payment in connection with the merger because the exercise price exceeded $18.25.
F3 The options were cancelled in connection with the merger in exchange for a cash payment equal to the difference between $18.25 and exercise price of the option multiplied by the number of shares subject to the option.