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Gwendolyn Wertz, Senior Vice President at Provident Financial Holdings Inc. (NASDAQ:PROV), a $101 million market cap financial institution known for maintaining dividend payments for 24 consecutive years, recently sold shares of the company’s common stock. According to a recent SEC filing, Wertz disposed of 1,940 shares on June 10, 2025, at a price of $15.40 per share, amounting to a total transaction value of $29,876. Following this sale, she holds 25,337 shares directly. Additionally, Wertz has indirect ownership of 6,372 shares through her Employee Stock Ownership Plan (ESOP). The stock, which currently yields 3.66% in dividends, has shown resilience with a 24.7% return over the past year.For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed insider transaction history and expert analysis in the Pro Research Report.
The filing also notes that Wertz’s total ownership includes restricted stock under Provident’s 2022 and 2013 Equity Incentive Plans, with various vesting dates extending to 2028. Trading at 0.79 times book value, InvestingPro analysis suggests the stock is currently near its Fair Value.
In other recent news, Provident Financial Holdings, Inc. disclosed a new severance agreement with Peter C. Fan, the company’s Senior Vice President, Chief Financial Officer, and Corporate Secretary. According to a recent 8-K filing with the SEC, the agreement outlines the terms of compensation in the event of an involuntary termination following a change in control of the company or its subsidiary, Provident Savings Bank, F.S.B. Effective as of May 22, 2025, the agreement is set to expire on February 28, 2026, but may be extended annually by the Board of Directors. If Mr. Fan is involuntarily terminated without cause or resigns within 12 months following a change in control due to specific conditions, he will receive a lump sum equivalent to twice his current base salary. Additionally, he will receive a lump sum equal to the largest annual bonus he received in the two years prior to termination. The agreement also ensures that Mr. Fan’s life, medical, dental, vision, and disability coverage will continue for two years post-termination. This development is part of Provident Financial Holdings’ ongoing efforts to shape its executive compensation and severance policies.
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