Form 4: Axos Financial COO Matsumoto Reports RSU Vesting

Axos Financial's EVP and COO, Raymond D Matsumoto, reported the vesting of 1,621 Restricted Stock Units and a subsequent net-settlement for tax purposes.

Summary

• Raymond D Matsumoto, EVP, Chief Operating Officer of Axos Financial, Inc., reported transactions on March 20, 2026.
• 1,621 shares of Common Stock were acquired following the vesting of Restricted Stock Units (RSUs).
• These RSUs were granted under the Axos Financial, Inc. 2014 Amended and Restated 2014 Stock Incentive Plan.
• 874 shares of Common Stock were retained by Axos Financial, Inc. for tax withholding purposes, valued at $82.93 per share.
• Following these transactions, Matsumoto beneficially owns 41,633 shares of Common Stock directly and 2,237 shares indirectly through a 401(k) Plan.
• He also holds 17,113 Restricted Stock Units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a routine executive compensation transaction (vesting of RSUs) and subsequent tax-related share disposition, which is expected and does not indicate a change in company fundamentals or outlook.

Positives

• Vesting of 1,621 Restricted Stock Units indicates a portion of executive compensation has materialized.
• The RSU grant includes dividend equivalent rights, providing additional value to the holder.

Negatives

• 874 shares of Common Stock were disposed of for tax withholding, reducing the direct share ownership from the vested amount.

Future Outlook

The Restricted Stock Units vest as to one-third of the shares on each anniversary date of grant, indicating future vesting events for the remaining units.

Industry Context

StockSavvy.ai notes that routine insider transactions like RSU vesting and tax-related dispositions are common across the financial services industry, reflecting standard executive compensation practices tied to long-term equity incentives. These events typically do not signal significant shifts in company strategy or performance.

Comparison to Industry Standards

• StockSavvy.ai observes that the structure of RSU vesting, often tied to multi-year schedules, is a standard practice in executive compensation across publicly traded companies, including peers in the banking and financial technology sectors such as SVB Financial Group (prior to its collapse, which had similar equity compensation structures), Signature Bank, and other regional banks.
• The net-settlement for tax withholding is also a common mechanism to manage tax obligations upon vesting, aligning with practices seen at companies like JPMorgan Chase or Bank of America for their executive equity awards.

Stakeholder Impact

• Minimal impact on shareholders as this is a routine compensation event for an executive.
• Positive for the reporting person (Raymond D Matsumoto) as a portion of his equity compensation has vested.

Next Steps

• Future tranches of the Restricted Stock Units are expected to vest on subsequent anniversary dates of the original grant.

Key Dates

Keywords

Axos Financial, AX, Form 4, insider transaction, RSU vesting, stock incentive plan, executive compensation, Raymond D Matsumoto, Chief Operating Officer