Form 4: BOKF CFO Grunst Reports Stock Vesting, Tax Sale

BOK Financial Corp's EVP and CFO, Martin E. Grunst, reported the vesting of phantom stock, with a portion sold to cover taxes and the remainder deferred.

Summary

• Martin E. Grunst, Executive Vice President and Chief Financial Officer of BOK Financial Corp, reported changes in his beneficial ownership of common stock and phantom stock.
• On January 13, 2026, 1,693 shares of phantom stock (restricted stock units) that were originally issued on February 28, 2023, vested.
• To cover tax obligations associated with this vesting, 147.5995 shares of common stock were disposed of at a price of $122.64 per share.
• Following this transaction, Grunst directly beneficially owns 35,590.4005 shares of common stock.
• The remaining 1,545.4005 shares of the vested phantom stock continue to be held by Grunst as a derivative security.
• The total beneficial ownership of phantom stock now stands at 15,185.9661 shares, which includes 150.8854 shares acquired through a BOKF dividend reinvestment plan since the last ownership report.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive due to the vesting of executive compensation, indicating a successful milestone for the executive. The subsequent sale for tax purposes is a routine and expected part of such events, not indicating a negative outlook.

Positives

• The vesting of 1,693 shares of phantom stock (restricted stock units) on January 13, 2026, represents a realization of previously granted compensation for the executive.
• Continued significant beneficial ownership of 35,590.4005 shares of common stock and 15,185.9661 shares of phantom stock by a key executive demonstrates alignment with shareholder interests.

Negatives

• A portion of the vested shares, specifically 147.5995 shares, was disposed of to cover tax liabilities, resulting in a reduction of direct common stock holdings.

Future Outlook

The phantom stock units held by the reporting person will become payable upon the termination of employment with the Company.

Industry Context

This is a routine insider transaction report (Form 4) detailing executive compensation vesting and tax-related stock disposition, which is common practice across all industries for publicly traded companies.

Stakeholder Impact

• Shareholders: This is a routine, pre-scheduled transaction related to executive compensation and is unlikely to have a significant direct impact on share price or company operations.
• Employees: No direct impact on general employees is indicated by this filing.
• Management: The transaction reflects the realization of compensation for a key executive, aligning their interests with long-term company performance.

Next Steps

• The remaining 1,545.4005 shares of phantom stock will become payable upon the reporting person's termination of employment with BOK Financial Corp.

Key Dates

Keywords

BOKF, BOK Financial, Form 4, Insider Transaction, Beneficial Ownership, Phantom Stock, Executive Compensation, Stock Vesting