James E. Sweeney, a director at Sound Monetary Bancorp, Inc. (NASDAQ:SFBC), has not too long ago bought shares of the corporate’s widespread inventory. Based on the newest SEC submitting, Sweeney disposed of a complete of 1,969 shares over three separate transactions on November 4th, fifth, and sixth. The sale costs ranged from $53.25 to $53.76 per share, amounting to a complete transaction worth of $105,567.
Following these transactions, Sweeney holds 4,384 shares not directly by means of a 401(okay) and 13,496 shares immediately. The gross sales had been reported to have been performed not directly by means of a 401(okay) plan.
In different latest information, Sound Monetary Bancorp, Inc. has made vital revisions to the change in management agreements for a number of key executives. These amendments, efficient from October 30, 2024, had been detailed in a latest SEC submitting. They embrace modifications for EVP and COO Heidi Sexton and EVP, Chief Technique Officer, and CFO Wes Ochs.
The revisions, accredited by the Boards of Administrators of each Sound Monetary Bancorp and its subsidiary Sound Neighborhood Financial institution, alter the definition of “Involuntary Termination” for the officers. The up to date definition now features a change within the officer’s principal office to a location greater than 35 miles from their present office.
Moreover, for 4 agreements that predate 2023, together with these for Sexton and Ochs, the definition of “Change in Control” has been up to date. These modifications are meant to make clear the circumstances beneath which the executives might be thought-about to have been involuntarily terminated.
These latest developments come as many firms are reevaluating government compensation and severance agreements in response to altering work environments and areas. The total textual content of the amendments to the change in management agreements for Sexton and Ochs may be discovered within the SEC submitting as Reveals 10.1 and 10.2.
InvestingPro Insights
Whereas James E. Sweeney’s latest sale of Sound Monetary Bancorp, Inc. (NASDAQ:SFBC) shares has caught buyers’ consideration, it is essential to contemplate the broader monetary image of the corporate. Based on InvestingPro information, SFBC has a market capitalization of $135.63 million USD, with a P/E ratio of 35.11 primarily based on the final twelve months as of Q3 2024. This comparatively excessive earnings a number of aligns with one of many InvestingPro Suggestions, which notes that SFBC is “trading at a high earnings multiple.”
Regardless of the director’s sale, SFBC has proven robust efficiency in latest months. The corporate boasts a 24% worth complete return over the previous three months and a powerful 36.16% return during the last six months. These figures assist one other InvestingPro Tip highlighting SFBC’s “strong return over the last three months” and “large price uptick over the last six months.”
It is value noting that SFBC has maintained dividend funds for 12 consecutive years, as identified by an InvestingPro Tip. This consistency in dividend funds could also be engaging to income-focused buyers, whilst the corporate faces challenges similar to weak gross revenue margins, one other perception supplied by InvestingPro.
For buyers searching for a extra complete evaluation, InvestingPro affords further suggestions and metrics past these talked about right here. The truth is, there are 7 extra InvestingPro Suggestions out there for SFBC, offering a deeper understanding of the corporate’s monetary well being and market place.
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