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Kenneth C. Cook, a director at Sandy Spring Bancorp Inc. (NASDAQ:SASR), a $1.3 billion regional bank with a notable 30-year dividend payment history, recently executed a sale of company shares valued at approximately $21,328. According to a filing with the Securities and Exchange Commission, Cook sold 746 shares of common stock on March 12, 2025, at an average price of $28.59 per share. The transaction comes as the stock trades near InvestingPro’s Fair Value level, with shares down about 14% year-to-date.
This transaction follows an acquisition of 1,942 restricted stock units, which were granted based on performance criteria set from January 1, 2022, to December 31, 2024. These shares were awarded on March 12, 2025, but did not involve any cash payment. The stock currently offers a 4.74% dividend yield, and InvestingPro analysis reveals 8 additional key insights about the company’s financial health and market position.
Following these transactions, Cook holds a total of 289,536.6161 shares of Sandy Spring Bancorp in direct ownership. Additionally, Cook’s holdings include restricted stock units from prior awards, which are set to vest over the coming years under the company’s incentive plans. The stock currently trades at a P/E ratio of 65.2x, with technical indicators suggesting oversold conditions.
In other recent news, Sandy Spring Bancorp has announced significant executive changes in light of its ongoing merger with Atlantic Union Bankshares (NYSE:AUB) Corporation. According to a recent 8-K filing with the U.S. Securities and Exchange Commission, the bank has adjusted compensation arrangements for certain officers to address potential excess parachute payments related to the merger. The Compensation Committee approved the acceleration of specific equity and cash-based awards, initially set for 2025, to December 2024. This includes portions of the 2024 annual cash bonuses and the vesting of restricted stock awards. Affected executives, including CEO Daniel J. Schrider, have entered into Acceleration and Clawback Agreements to manage repayment conditions if employment ends prematurely. The merger, announced on October 21, 2024, awaits regulatory and shareholder approvals. The definitive joint proxy statement/prospectus was distributed to shareholders in December 2024. These developments highlight Sandy Spring Bancorp’s adherence to regulatory compliance during the merger process.
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