Western New England Bancorp ESOP Files 13G/A Amendment No. 13

TL;DR

**Western New England Bancorp's ESOP just updated its ownership filing, confirming its continued stake.**

AI Summary

The Employee Stock Ownership Plan of Westfield Financial, Inc. filed an Amendment No. 13 to its SC 13G/A, indicating its ownership of Western New England Bancorp, Inc. common stock as of December 31, 2023. This filing updates previous disclosures, showing the ESOP's continued significant stake in the company. For investors, this matters because ESOPs typically hold shares for long-term employee benefits, suggesting a stable, long-term shareholder base for Western New England Bancorp.

Why It Matters

This filing confirms the Employee Stock Ownership Plan (ESOP) maintains a notable ownership position, which can influence corporate governance and signal long-term employee alignment with company performance.

Risk Assessment

Risk Level: low — This is a routine amendment filing by an ESOP, indicating stable ownership rather than a volatile change.

Analyst Insight

An investor should note that an ESOP's continued ownership suggests a stable, long-term shareholder base, which can be a positive indicator for company stability, but this filing alone doesn't provide new actionable financial data.

Key Players & Entities

• Western New England Bancorp, Inc. (company) — the issuer of the securities
• Employee Stock Ownership Plan of Westfield Financial, Inc. (company) — the reporting person holding the shares
• Westfield Financial, Inc. (company) — former name of the subject company and the ESOP's original name
• December 31, 2023 (date) — the date of the event requiring the filing

FAQ

From the Filing

0001999371-24-001657.txt : 20240207 0001999371-24-001657.hdr.sgml : 20240207 20240207163349 ACCESSION NUMBER: 0001999371-24-001657 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240207 DATE AS OF CHANGE: 20240207 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Western New England Bancorp, Inc. CENTRAL INDEX KEY: 0001157647 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] ORGANIZATION NAME: 02 Finance IRS NUMBER: 731627673 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-62413 FILM NUMBER: 24604783 BUSINESS ADDRESS: STREET 1: 141 ELM STREET CITY: WESTFIELD STATE: MA ZIP: 01085 BUSINESS PHONE: 413-568-1911 MAIL ADDRESS: STREET 1: 141 ELM STREET CITY: WESTFIELD STATE: MA ZIP: 01085 FORMER COMPANY: FORMER CONFORMED NAME: WESTFIELD FINANCIAL INC DATE OF NAME CHANGE: 20010816 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Western New England Bancorp, Inc. CENTRAL INDEX KEY: 0001157647 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] ORGANIZATION NAME: 02 Finance IRS NUMBER: 731627673 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 141 ELM STREET CITY: WESTFIELD STATE: MA ZIP: 01085 BUSINESS PHONE: 413-568-1911 MAIL ADDRESS: STREET 1: 141 ELM STREET CITY: WESTFIELD STATE: MA ZIP: 01085 FORMER COMPANY: FORMER CONFORMED NAME: WESTFIELD FINANCIAL INC DATE OF NAME CHANGE: 20010816 SC 13G/A 1 wneb-sc13ga_020724.htm AMENDMENT NO. 13 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G/A UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 13)* Western New England Bancorp, Inc. (Name of Issuer) Common Stock, $.01 par value per share (Title of Class of Securities) 958892101 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) __________________ *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 958892101 13G Page 2 of 5 Pages 1 Names of Reporting Persons Employee Stock Ownership Plan of Westfield Financial, Inc. 2 Check the Appropriate Box if a Member of a Group ( See Instructions) (a) ☐ (b) ☐ 3 SEC Use Only 4 Citizenship or Place of Organization Employee benefit plan of a Massachusetts corporation Number of Shares Beneficially Owned by Each Reporting Person With 5 Sole Voting Power 291,494 6 Shared Voting Power 1,251,304 7 Sole Dispositive Power 1,542,798 8 Shared Dispositive Power -0- 9 Aggregate Amount Beneficially Owned by Each Reporting Person 1,542,798 10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares ( See Instructions) ☐ 11 Percent of Class Represented by Amount in Row 9 7.1% 1 12 Type of Reporting Person ( See Instructions) EP 1 The percentages used herein and in the rest of this Schedule 13G are calculated based upon 21,666,807 shares outstanding as of December 31, 2023. CUSIP No. 958892101 13G Page 3 of 5 Pages Item 1(a). Name of Issuer: Westfield Financial, Inc. Item 1(b). Address of Issuer’s Principal Executive Offices: 141 Elm Street, Westfield, Massachusetts 01085 Item 2(a). Name of Person Filing: This Schedule 13G is being filed by the Employee Stock Owne