Form 4: Bank7 Corp. Executive Douglas A. Haines Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Douglas A. Haines, a Regional President at Bank7 Corp., sold 91 shares of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- Douglas A. Haines, a Regional President at Bank7 Corp., sold 91 shares of common stock on December 17, 2024.
- The sale was executed at a price of $45.1 per share.
- This transaction was to cover tax obligations related to the vesting of restricted stock units.
- Haines still holds 15,837 shares of Bank7 Corp. common stock after the transaction.
- The reported holdings include various restricted stock units that vest over several years.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction for tax purposes and does not indicate any positive or negative sentiment.
Industry Context
This is a routine Form 4 filing, which is common for executives who receive stock-based compensation. It reflects standard practice for covering tax obligations related to vesting equity.
Comparison to Industry Standards
- Form 4 filings are a standard part of regulatory compliance for publicly traded companies in the US.
- The sale of shares to cover tax obligations is a common practice among executives receiving equity compensation.
- Comparable companies would also have similar filings when executives sell shares.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small sale by an executive.
- The sale is a normal part of executive compensation and does not indicate any change in the company's fundamentals.
Key Dates
| Date | Description |
|---|---|
| 01/06/2021 | First vesting date of 1,000 restricted stock units, vesting in five equal installments. |
| 12/17/2022 | First vesting date of 1,250 restricted stock units, vesting in four equal installments. |
| 02/15/2024 | First vesting date of 5,000 restricted stock units, vesting in four equal installments. |
| 12/17/2024 | Date of the reported stock sale and vesting of restricted stock units. |
| 02/15/2025 | Next vesting date of 3,500 and 5,000 restricted stock units, vesting in four equal installments. |
| 12/17/2025 | Next vesting date of 1,250 restricted stock units, vesting in four equal installments. |
| 02/15/2026 | Next vesting date of 3,500 and 5,000 restricted stock units, vesting in four equal installments. |
| 02/15/2027 | Next vesting date of 3,500 and 5,000 restricted stock units, vesting in four equal installments. |
| 02/15/2028 | Final vesting date of 3,500 restricted stock units, vesting in four equal installments. |
Keywords
Bank7 Corp, BSVN, insider trading, Form 4, stock sale, restricted stock units, executive compensation, Douglas A. Haines
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