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Form 3 Sterling Bancorp, Inc. For: Oct 01 Filed by: Knott Karen

October 7, 2021 12:51 PM EDT
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
Knott Karen

(Last) (First) (Middle)
C/O STERLING BANCORP, INC.
ONE TOWNE SQUARE, SUITE 1900

(Street)
SOUTHFIELD MI 48076

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
10/01/2021
3. Issuer Name and Ticker or Trading Symbol
Sterling Bancorp, Inc. [ SBT ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP and CFO
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 18,573
D
 
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy)   (1) 03/21/2028 Common Stock 2,000 13.73 D  
Stock Option (right to buy)   (2) 03/01/2029 Common Stock 3,115 10.12 D  
Stock Option (right to buy)   (3) 03/02/2030 Common Stock 6,944 7.1 D  
Explanation of Responses:
1. Represents an option to purchase 2,000 shares of Common Stock which was granted pursuant to the Sterling Bancorp, Inc. 2017 Omnibus Equity Incentive Plan (the "Plan") on March 21, 2018, and vests 50% on the third anniversary of the grant and 50% on the fourth anniversary of the grant.
2. Represents an option to purchase 3,115 shares of Common Stock which was granted pursuant to the Plan on March 1, 2019, and vests 50% on the third anniversary of the grant and 50% on the fourth anniversary of the grant.
3. Represents an option to purchase 6,944 shares of Common Stock which was granted pursuant to the Plan on March 2, 2020, and vests ratably over three years (one-third per year) on each anniversary of the grant.
Remarks:
Exhibit 24, Power of Attorney, is attached.
/s/ Karen Knott by Colleen Kimmel, attorney-in-fact 10/07/2021
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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Exhibit 24

 

POWER OF ATTORNEY

 

KNOW ALL MEN BY THESE PRESENTS, that the undersigned hereby constitutes and appoints Colleen Kimmel, signing singly, his or her true and lawful attorney-in-fact to:

 

1.                  execute for and on behalf of the undersigned, with respect to the undersigned’s position as a director and/or officer of Sterling Bancorp, Inc. (the “Company”), Form ID and Forms 3, 4 and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder;

 

2.                  do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form ID or Forms 3, 4 or 5, complete and execute any amendment or amendments thereto, and timely file such form with the Unites States Securities and Exchange Commission and any stock exchange, stock market or similar authority; and

 

3.                  take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, and in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

 

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned’s responsibilities to comply with Section 16 of the Securities Exchange Act of 1934.

 

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 and 5 with respect to the undersigned’s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.

 

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of October 5, 2021.

 

  /s/ Karen Knott
  Karen Knott

 

 

 



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