Form 4: BOKF CEO Stacy Kymes Reports Significant Stock Transactions

BOK Financial Corp's President & CEO, Stacy Kymes, reported acquisitions of restricted stock and a disposition for tax purposes, alongside a correction to previous holdings.

Summary

• Stacy Kymes, President & CEO of BOK Financial Corp (BOKF), acquired 25,274 shares of common stock as restricted stock on February 17, 2026, which are subject to vesting on January 16, 2029, and forfeiture based on employment and performance targets.
• An additional 14,647 shares of common stock were acquired on February 18, 2026, representing an upward adjustment to restricted stock awards made in 2023 due to the attainment of performance goals under the BOKF Executive Incentive Plan.
• Kymes disposed of 16,846 shares of common stock at a price of $133.56 per share on February 18, 2026, likely for tax withholding purposes related to the stock acquisitions.
• A correction was made to a previous Form 4 filed on August 27, 2025, where a gift amount was overstated by 0.5386 shares, resulting in an addition of 0.5386 shares to Kymes' beneficial ownership.
• Following these transactions, Kymes directly beneficially owns 123,180.539 shares of common stock.
• Indirect beneficial ownership includes 23,936 shares through the Angel D Kymes Revocable Trust and 9,518.5911 shares through a 401(k) Plan, which includes 100.7767 shares acquired via a dividend reinvestment plan.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, reflecting routine executive compensation activities and performance goal attainment, offset by a tax-related disposition. It does not indicate a significant shift in company fundamentals.

Positives

• The acquisition of 14,647 shares reflects the attainment of performance goals established under the BOKF Executive Incentive Plan for 2023 restricted stock awards, indicating strong executive performance.
• The grant of 25,274 restricted shares aligns executive incentives with long-term shareholder value creation.

Negatives

• The disposition of 16,846 shares, likely for tax purposes, reduces the direct beneficial ownership of the CEO.

Risks

• The 25,274 restricted shares are subject to forfeiture upon termination of employment prior to vesting.
• The restricted shares are also subject to forfeiture if certain performance earnings per share targets established pursuant to the BOKF Executive Incentive Plan are not met.

Future Outlook

The filing indicates future vesting of restricted stock on January 16, 2029, contingent on continued employment and the achievement of specific performance earnings per share targets under the BOKF Executive Incentive Plan.

Management Comments

• The transactions reflect participation in the BOKF Executive Incentive Plan, which includes performance-based restricted stock awards.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures of insider transactions, common for executives receiving equity compensation. These transactions reflect the company's compensation structure and the executive's personal investment decisions, which are standard practices within the financial services industry.

Comparison to Industry Standards

• StockSavvy.ai observes that equity compensation, including restricted stock awards tied to performance, is a standard practice across the financial services industry for aligning executive incentives with shareholder interests.
• Companies like JPMorgan Chase and Bank of America also utilize similar long-term incentive plans for their top executives, often involving multi-year vesting schedules and performance hurdles.
• The disposition of shares for tax withholding is also a common occurrence upon the vesting or exercise of equity awards, consistent with industry norms for executive compensation.

Related Party Transactions

• Indirect beneficial ownership of 23,936 shares through the Angel D Kymes Revocable Trust.

Stakeholder Impact

• Shareholders benefit from executive incentives being tied to company performance through the BOKF Executive Incentive Plan, aligning management's interests with long-term shareholder value.

Next Steps

• Vesting of 25,274 restricted shares on January 16, 2029, subject to performance and employment conditions.
• Continued participation in the BOKF Executive Incentive Plan for future performance-based awards.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation and tax-related transactions, not fundamental business performance or strategic shifts. While the performance-based awards are positive, the overall impact on the company's valuation or future prospects is neutral. Therefore, a 'hold' recommendation is appropriate as this filing does not provide new information warranting a change in investment thesis.

Keywords

BOK FINANCIAL CORP, BOKF, Stacy Kymes, Form 4, Insider Trading, Restricted Stock, Performance Awards, Executive Compensation, Stock Ownership, Dividend Reinvestment