Charles F. Withee - 02 Nov 2021 Form 4 Insider Report for Provident Bancorp, Inc. /MD/ (PVBC)

Role
Pres. & CLO of Subsidiary Bank
Signature
/s/ Carol Houle, pursuant to power of attorney
Issuer symbol
PVBC
Transactions as of
02 Nov 2021
Net transactions value
-$130,967
Form type
4
Filing time
08 Nov 2021, 09:35:49 UTC
Next filing
18 Nov 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PVBC Common Stock Options Exercise $524,287 +60,902 +82% $8.61 135,231 02 Nov 2021 Direct F1, F2
transaction PVBC Common Stock Tax liability $655,254 -36,403 -27% $18.00 98,828 02 Nov 2021 Direct F1, F2
holding PVBC Common Stock 40,159 02 Nov 2021 By 401(k) F5
holding PVBC Common Stock 11,648 02 Nov 2021 By ESOP F5

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 PVBC Stock Options Options Exercise $0 -60,902 -80% $0.000000 15,226 02 Nov 2021 Common Stock 60,902 $8.61 Direct F4
holding PVBC Stock Options 102,125 02 Nov 2021 Common Stock 102,125 $11.93 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes shares of restricted stock which vest at a rate of 20% per year commencing on November 17, 2017.
F2 Shares of restricted stock vest at a rate of 20% per year commencing on December 17, 2021.
F3 Stock option vest at a rate of 20% per year commencing on December 17, 2021.
F4 Stock option vest at a rate of 20% per year commencing on November 17, 2017.
F5 Reflects transactions not required to be reported pursuant to Section 16 of the Securities Exchange Act of 1934, as amended.