Barrett Patrick Sean 4
4 · OCEANFIRST FINANCIAL CORP · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
OceanFirst (OCFC) CFO Patrick Barrett Receives Restricted Shares; Some Forfeited
What Happened Patrick S. Barrett, Senior Executive Vice President & Chief Financial Officer of OceanFirst Financial Corp. (OCFC), was awarded a total of 38,068 restricted shares (15,228 and 22,840 shares) on Feb 27, 2026 at $0.00 per share, and on Mar 1, 2026 18,972 shares were disposed to the issuer at $0.00 (a forfeiture of unvested performance-based restricted shares). No cash was exchanged in these transactions; the awards are equity grants, and the disposition represents forfeiture rather than an open-market sale.
Key Details
- Transaction dates and prices:
- 2026-02-27: Awarded 15,228 shares @ $0.00 (acquisition)
- 2026-02-27: Awarded 22,840 shares @ $0.00 (acquisition)
- 2026-03-01: Disposition to issuer of 18,972 shares @ $0.00 (forfeiture)
- Total newly awarded on Feb 27: 38,068 restricted shares; forfeited on Mar 1: 18,972 shares.
- Shares owned after these transactions: not specified in the provided excerpt of the filing.
- Footnotes of interest:
- F1: One grant vests in four equal annual installments beginning Mar 1, 2027.
- F2: One grant vests on Mar 1, 2029 at ~33%–100% depending on performance for 2026–2028.
- F3: The Mar 1 disposition reflects forfeiture of performance-based restricted shares awarded Feb 28, 2023 for failure to meet performance conditions.
- F4: The form reflects increases in beneficial ownership from exempt acquisitions under Rule 16b-3(c).
- Filing: Form filed 2026-03-03 (period of report 2026-02-27); the filing shows these award/forfeiture events and does not indicate a late filing in the provided data.
Context
- These transactions are equity awards and a forfeiture tied to time- and performance-based vesting conditions; awards at $0.00 are common for restricted stock grants and do not reflect open-market purchases or sales.
- For retail investors, awards signal executive compensation actions rather than direct buying or selling for cash. The forfeiture simply means performance conditions were not met for a prior grant and does not indicate an open-market disposition.
Insider Transaction Report
Form 4
Barrett Patrick Sean
Senior EVP & CFO
Transactions
- Award
Common Stock
[F1]2026-02-27+15,228→ 149,125 total - Award
Common Stock
[F2]2026-02-27+22,840→ 171,965 total - Disposition to Issuer
Common Stock
[F3]2026-03-01−18,972→ 152,993 total
Holdings
- 1,210(indirect: By ESOP)
Common Stock
[F4]
Footnotes (4)
- [F1]Restricted shares awarded. Such shares vest in four equal annual installments beginning on March 1, 2027. Total includes other restricted shares that vest in the future.
- [F2]Restricted shares awarded. Such shares vest on March 1, 2029 at approximately 33% to 100% depending on the attainment of defined performance criteria for the three year period from January 1, 2026 through December 31, 2028, or are forfeited if threshold performance is not met. Total includes other unvested restricted shares that vest in the future.
- [F3]Represents forfeiture of unvested performance based restricted shares, originally awarded on February 28, 2023, for failure to satisfy performance conditions. Total includes other unvested shares that vest in the future.
- [F4]This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to Rule 16b-3(c).
Signature
/s/ Steven J. Tsimbinos, Power of Attorney|2026-03-03