Form 4: Bank7 Corp. EVP and CFO Kelly J. Harris Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Kelly J. Harris, EVP and CFO of Bank7 Corp., disposed of 327 shares of common stock on December 17, 2024, to satisfy tax withholding obligations related to vesting restricted stock units.
Summary
- On December 17, 2024, Kelly J. Harris, the EVP and CFO of Bank7 Corp., disposed of 327 shares of common stock.
- The transaction was executed at a price of $45.1 per share.
- This disposal was to cover tax obligations related to the vesting of restricted stock units.
- Following the transaction, Harris directly owns 19,044 shares of Bank7 Corp.
- These holdings include various restricted stock units vesting over the next several years.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of a routine transaction. It doesn't indicate positive or negative sentiment regarding the company's prospects.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies. It provides transparency regarding insider transactions but doesn't necessarily indicate a change in the company's overall financial health or strategic direction.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units, are common across the banking industry.
- Companies like Simmons First National Corporation (SFNC) and Prosperity Bancshares (PB) also utilize similar equity-based compensation plans for their executives.
- The vesting schedules and amounts of restricted stock units are generally aligned with industry benchmarks for companies of similar size and performance.
Stakeholder Impact
- The transaction has a minimal impact on shareholders, as it is a small percentage of the outstanding shares.
- Employees are not directly impacted by this transaction.
Key Dates
| Date | Description |
|---|---|
| 12/17/2022 | One of four equal installments of restricted stock units vested. |
| 01/06/2021 | Original grant date for 1,000 restricted stock units vesting in five equal installments. |
| 01/06/2022 | One of five equal installments of restricted stock units vested. |
| 01/06/2023 | One of five equal installments of restricted stock units vested. |
| 01/06/2024 | One of five equal installments of restricted stock units vested. |
| 02/15/2024 | One of three equal installments of restricted stock units vested. |
| 12/17/2023 | One of four equal installments of restricted stock units vested. |
| 12/17/2024 | Date of transaction: Kelly J. Harris disposed of 327 shares of common stock; One of four equal installments of restricted stock units vested. |
| 02/25/2025 | One of three equal installments of restricted stock units will vest. |
| 01/06/2025 | One of five equal installments of restricted stock units will vest. |
| 02/15/2025 | One of three equal installments of restricted stock units will vest. |
| 12/17/2025 | One of four equal installments of restricted stock units will vest. |
| 02/25/2026 | One of three equal installments of restricted stock units will vest. |
| 02/15/2026 | One of three equal installments of restricted stock units will vest. |
| 02/25/2027 | One of three equal installments of restricted stock units will vest. |
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