Form 4: Executive VP of Banner Corp Relinquishes Shares for Tax Obligations
SEC Form 4 Filing
James P.G. McLean, Executive VP of Banner Bank, relinquished 152 shares of common stock to cover tax obligations on vesting of restricted stock.
Summary
- On April 3, 2024, James P.G. McLean, Executive VP of Banner Bank, relinquished 152 shares of Banner Corp common stock to cover tax obligations.
- The transaction was executed at a market price of $46.58 per share.
- Following the transaction, McLean directly owns 23,368 shares of Banner Corp common stock.
Sentiment
Score: 5
Explanation: This is a neutral event related to routine tax obligations. It doesn't indicate positive or negative sentiment towards the company.
Industry Context
Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their transactions in company stock. This transaction is related to tax obligations arising from the vesting of restricted stock, a common form of executive compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares relinquished for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 04/03/2024 | Date of transaction: James P.G. McLean relinquished 152 shares of common stock. |
| 04/04/2024 | Date of signature on the Form 4 filing. |
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