David M. Lobach Jr., Chairman, President, and CEO of Embassy Bancorp, Inc. (OTC:EMYB), a $125.7 million market cap regional bank trading at 11.9x earnings, has reported several transactions involving the company's common stock, according to a recent SEC filing. InvestingPro analysis indicates the stock is trading near its 52-week high of $16.50, suggesting potential overvaluation.
On December 13, Lobach disposed of 3,876 shares at $16.50 each, generating a total of $63,954. This transaction was carried out to satisfy tax obligations related to the vesting of previously issued restricted stock awards.
Additionally, Lobach acquired 4,913 shares of restricted stock on the same day, as part of the company's Amended and Restated 2010 Stock Incentive Plan. These shares were granted without any cash exchange and will vest over three years.
In separate transactions on December 13 and 16, Lobach purchased a total of 75 shares at prices ranging from $16.48 to $16.50, under a custodial account for his grandchild. These acquisitions amounted to $1,237.
Following these transactions, Lobach holds 357,012.907 shares directly and additional shares through indirect holdings, including an IRA and a spouse's IRA.
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