Form 4: Banner Corp CEO Relinquishes Shares to Cover Tax Obligations
SEC Form 4 Filing
Mark J. Grescovich, President and CEO of Banner Corp, relinquished 595 shares of common stock to cover tax obligations arising from the vesting of restricted stock.
Summary
- On March 28, 2024, Mark J. Grescovich, the President and CEO of Banner Corp, relinquished 595 shares of common stock to cover tax obligations.
- This transaction occurred due to the vesting of 2,441 shares of restricted stock under the 2018 Omnibus Incentive Plan.
- The shares were relinquished at a market price of $47.87 per share.
- Following the transaction, Grescovich directly owns 200,018 shares of Banner Corp.
- The transaction was reported on April 1, 2024.
Sentiment
Score: 5
Explanation: This is a neutral transaction related to tax obligations, with no significant impact on the company's outlook.
Industry Context
This is a routine Form 4 filing, reflecting an insider transaction related to tax obligations on vested restricted stock. Such transactions are common and generally don't indicate a change in the executive's long-term outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 03/28/2024 | Date of transaction: Grescovich relinquished 595 shares to cover tax obligations. |
| 04/01/2024 | Date of report filing. |
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