Victor Francesco E. DeMarco, the Executive Vice President and Chief Legal Counsel at Avidbank Holdings, Inc., has reported a transaction involving the sale of 463 shares of the bank's common stock. This transaction, filed on October 6, 2026, is significant as it highlights the ongoing activity of executives in the banking sector, particularly in terms of stock ownership and compensation.
Avidbank Holdings, Inc., identified by the Central Index Key (CIK) 0001443575, operates within the state commercial banks sector. The company is based in San Jose, California, and is publicly traded under the ticker symbol AVBH. The bank has been active in filing various reports with the SEC, including recent filings on October 23, 2026, and October 6, 2026, both of which are Form 4 submissions.
According to the recent filing, DeMarco sold the shares on October 2, 2026, at a price of $31.26 per share. Following this transaction, he now owns a total of 15,977 shares of Avidbank. The filing notes that the shares were withheld upon the vesting of restricted common stock based on the closing price of the issuer's common stock on the transaction date.
This transaction may affect various stakeholders, including Avidbank's investors and employees, as it reflects the bank's executive compensation structure and the potential for future stock performance. The filing emphasizes the importance of transparency in executive transactions, which can influence investor confidence and market perception.
Details regarding any upcoming filings or additional actions related to this transaction were not specified in the filing. However, the continued reporting of stock transactions by executives underscores the dynamic nature of the banking industry and its regulatory environment.