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In a recent series of transactions, James R. Brannen, the Chief Executive Officer of First Seacoast Bancorp , Inc. (NASDAQ:FSEA), acquired a total of 500 shares of the company’s common stock. The purchases, which occurred on June 4, 2025, were conducted at prices ranging from $11.29 to $11.50 per share, amounting to a total value of $5,707. The timing is notable as the stock trades near its 52-week high of $11.80, having delivered a 22% return over the past year. According to InvestingPro, management has been consistently buying back shares, signaling confidence in the company’s prospects.
Following these transactions, Brannen’s direct ownership in the company increased to 32,137 shares. Additionally, Brannen holds indirect ownership through various accounts, including an IRA, a 401(k), and an ESOP, which collectively account for several thousand more shares.
The transactions did not involve any equity swaps, and all shares were acquired directly by Brannen. This move reflects a continued investment in the company by its CEO, aligning his interests with those of other shareholders.
In other recent news, First Seacoast Bancorp announced an amendment to the compensatory arrangements for its executive, James R. Brannen. The amendment affects Brannen’s Salary Continuation Agreement, as detailed in a filing with the Securities and Exchange Commission. Under the revised terms, Brannen will receive an annual benefit of $64,817 if he departs from the company for reasons other than a change in control. This benefit will be distributed over 120 months, starting the second month after his separation, provided no disability or death occurs. In the event of a change in control, Brannen’s annual benefit will increase to $132,209, with a lump sum payment if he separates within two years of the control change. The amendment also outlines specific conditions for benefit distribution in the cases of disability or death. These changes are now part of the official records, as indicated in Exhibit 10.1 of the Current Report on Form 8-K. The adjustment in Brannen’s compensation plan is a reflection of First Seacoast Bancorp’s strategic financial management decisions.
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