Form 4: Banner Corp Executive VP Relinquishes Shares for Tax Obligations
SEC Filing
James P.G. McLean, Executive VP of Banner Bank, relinquished 151 shares of Banner Corp stock to cover tax obligations on vesting restricted stock.
Summary
- On April 3, 2025, James P.G. McLean, Executive VP of Banner Bank, relinquished 151 shares of Banner Corp common stock to cover tax obligations.
- The shares were relinquished at a price of $60.55 per share.
- This transaction occurred due to the vesting of 617 shares of restricted stock under the 2018 Omnibus Incentive Plan.
- Following the transaction, McLean directly owns 24,890 shares of Banner Corp common stock.
Sentiment
Score: 5
Explanation: This is a routine transaction related to executive compensation and tax obligations, with no inherent positive or negative implications for the company's overall performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a common practice of executives covering tax obligations related to vesting equity awards.
Key Dates
| Date | Description |
|---|---|
| 04/03/2025 | Date of transaction: James P.G. McLean relinquished shares to cover tax obligations. |
| 04/04/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Insider Trading, Executive Compensation, Stock Relinquishment, Tax Obligations, Restricted Stock, Banner Corp, BANR, James P.G. McLean
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