Form 4: BankUnited COO Thomas M. Cornish Acquires 19,770 Restricted Share Units

BankUnited's Chief Operating Officer, Thomas M. Cornish, acquired 19,770 restricted share units on April 24, 2025, under the company's 2023 Omnibus Equity Incentive Plan.

Summary

• On April 24, 2025, Thomas M. Cornish, the Chief Operating Officer of BankUnited, Inc. acquired 19,770 restricted share units.
• The acquisition was made pursuant to the BankUnited, Inc. 2023 Omnibus Equity Incentive Plan.
• Each restricted share unit represents the right to receive one share of common stock or cash equivalent to the fair market value of one share.
• The restricted share units will vest in three equal installments of 6,590 units each on December 31, 2025, December 31, 2026, and December 31, 2027.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices, aligning management interests with shareholders.

Positives

• The acquisition of restricted share units aligns the COO's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the COO.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This type of equity compensation is common in the banking industry to incentivize executives and align their interests with shareholders. Many financial institutions use similar equity incentive plans to attract and retain top talent.

Comparison to Industry Standards

• Equity compensation is a standard practice among publicly traded banks.
• Companies like JPMorgan Chase, Bank of America, and Wells Fargo also utilize restricted stock units as part of their executive compensation packages.
• The vesting schedules and terms of these plans are generally comparable across the industry, with vesting periods typically ranging from three to five years.

Stakeholder Impact

• Shareholders: Aligns executive compensation with company performance.
• Employees: Provides insight into executive compensation structure.
• Management: Incentivizes long-term value creation.

Key Dates

Keywords

BankUnited, Restricted Share Units, Form 4, Equity Incentive Plan, Thomas M. Cornish, COO, BKU