Form 4: Banner Corp Executive Vests, Sells Shares for Tax

Kenneth A. Larsen, Executive VP of Banner Bank, acquired 1,364 shares of Banner Corp common stock through vesting and subsequently disposed of 416 shares to cover tax obligations.

Summary

• Kenneth A. Larsen, Executive VP of Banner Bank, acquired 1,364 shares of Banner Corp common stock on March 4, 2026.
• These shares vested from an award of 1,896 performance shares originally reported on April 3, 2023, with the actual number determined by Banner Corporation's Compensation Committee.
• Larsen simultaneously disposed of 416 shares of common stock at a price of $60.87 per share to cover tax obligations related to the vesting.
• The market price for both transactions was $60.87 per share on March 4, 2026.
• Following these transactions, Larsen directly owns 22,190 shares, which includes 3,011 shares through a Deferred Compensation Plan and 225 shares through an IRA.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event. The vesting of performance shares indicates the executive met performance targets, which is positive, but the subsequent sale for taxes is a routine event and not a discretionary sale.

Positives

• The vesting of 1,364 performance shares indicates the achievement of performance criteria set by Banner Corporation's Compensation Committee.
• The acquisition of shares increases the executive's direct ownership in the company, aligning interests with shareholders.

Negatives

• Disposition of 416 shares to cover tax obligations reduces the executive's overall direct shareholding.

Industry Context

StockSavvy.ai notes that insider transactions, such as the vesting of performance shares and subsequent sale for tax purposes, are common occurrences in executive compensation structures across the financial industry. These transactions reflect the realization of long-term incentive awards and are generally not indicative of broader market or company-specific trends.

Stakeholder Impact

• Shareholders: Minimal direct impact. The vesting indicates performance targets were met, which is generally positive. The small sale for taxes is routine.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Key Dates

Keywords

Banner Corp, BANR, Insider Trading, Form 4, Executive Compensation, Stock Vesting, Kenneth A. Larsen, Performance Shares, Tax Obligations