Form 4: Banner Corp Executive VP James T. Reed Jr. Reports Stock Transactions
SEC Form 4 Filing
Executive VP of Banner Bank, James T. Reed Jr., reports acquisition and disposal of Banner Corp common stock related to performance share vesting and tax obligations.
Summary
- On March 6, 2025, James T. Reed Jr., Executive VP of Banner Bank, reported acquiring 1,795 shares of Banner Corp common stock at $63.89 per share due to the vesting of performance shares.
- Reed also disposed of 534 shares at $63.89 per share to cover tax obligations related to the vesting of the restricted stock.
- Following these transactions, Reed directly owns 29,213 shares of Banner Corp common stock, which includes 825 shares held through an IRA.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations. There is no indication of positive or negative performance signals.
Positives
- The vesting of performance shares indicates that certain performance criteria set by Banner Corporation's Compensation Committee were met.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity related to compensation and tax obligations, which is typical for executive stock ownership.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| 03/31/2022 | Original report of performance shares award at maximum performance criteria. |
| 03/06/2025 | Date of stock acquisition and disposal. |
| 03/07/2025 | Date of signature on the Form 4 filing. |
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