Kevin Cummings - 06 Apr 2022 Form 4 Insider Report for Investors Bancorp, Inc. (ISBC)

Role
Chairman and CEO, Director
Signature
/s/ Brian Doran, pursuant to power of attorney
Issuer symbol
ISBC
Transactions as of
06 Apr 2022
Transactions value $
-$966,718
Form type
4
Filing time
07 Apr 2022, 18:22:13 UTC
Previous filing
25 Jun 2021
Next filing
02 May 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ISBC Common Stock Tax liability -$967K -64.8K -4.08% $14.93 1.52M 06 Apr 2022 Direct
transaction ISBC Common Stock Other -1.52M -100% 0 06 Apr 2022 Direct F1
transaction ISBC Common Stock Other -14.4K -100% 0 06 Apr 2022 By 401K F1
transaction ISBC Common Stock Other -79.9K -100% 0 06 Apr 2022 By IRA F1
transaction ISBC Common Stock Other -50.4K -100% 0 06 Apr 2022 By ESOP F1

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 ISBC Stock Options Other -525K -100% 0 06 Apr 2022 Common Stock 525K $12.54 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Kevin Cummings is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Each share of common stock was converted into and became exchangeable for the right to receive (i) $1.46 in cash and (ii) 0.297 of a share of Citizens Financial Group. Inc. common stock.
F2 Each option was converted into an option to purchase a number of shares of Citizens Financial Group Inc.'s common stock (rounded down to the nearest whole share) determined by multiplying (i) the number of shares of Investors Bancorp Inc. common stock subject to such stock option by (ii) 0.3272, at a per share exercise price (rounded up to the nearest whole cent) equal to the quotient obtained by dividing (a) the per share exercise price for each share of Investors Bancorp, Inc. common stock subject to such option by (b) 0.0302.