Form 4: BOKF Director Sells Shares Under 10b5-1 Plan

BOK Financial Corp Director Steven Bangert sold 1,000 shares of common stock at $114.888 per share, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Steven Bangert, a Director of BOK Financial Corp (BOKF), reported a sale of common stock.
• The transaction involved the disposition of 1,000 shares of BOKF Common Stock.
• The shares were sold at a price of $114.888 per share.
• The transaction was executed on December 1, 2025.
• Following this transaction, Mr. Bangert directly beneficially owns 37,416 shares of Common Stock.
• Additionally, Mr. Bangert indirectly beneficially owns 12,236 shares through Bangert Family Investments, LLLP.
• The sale was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 5

Explanation: The transaction is a routine sale by a director under a pre-arranged 10b5-1 plan, which typically indicates personal financial planning rather than a reaction to new company-specific information. This mitigates any negative sentiment usually associated with insider sales.

Positives

• The sale was conducted under a Rule 10b5-1 plan, indicating a pre-scheduled transaction rather than a reaction to immediate company news, which enhances transparency and reduces concerns about opportunistic insider trading.

Negatives

• A director selling shares, even under a 10b5-1 plan, can sometimes be interpreted by the market as a slight negative signal regarding future prospects, though this is mitigated by the pre-planned nature.

Future Outlook

NA

Industry Context

This is an individual insider transaction and does not directly relate to broader industry trends or competitor activities, beyond the general market conditions that might influence a director's personal financial planning.

Related Party Transactions

• Steven Bangert indirectly holds 12,236 shares through Bangert Family Investments, LLLP, indicating a related party beneficial ownership structure.

Stakeholder Impact

• Minimal direct impact on shareholders, employees, customers, suppliers, or creditors as this is a routine, pre-planned insider stock sale and not indicative of operational or strategic changes.

Key Dates

Recommendation

The sale of 1,000 shares by a director, while an insider transaction, was executed under a Rule 10b5-1 plan. This suggests a pre-scheduled personal financial decision rather than a reaction to new material information about BOK Financial Corp. Given the relatively small number of shares sold compared to total holdings and the pre-planned nature, this event alone is unlikely to signal a fundamental shift in the company's prospects or warrant a change from a 'hold' recommendation.

Keywords

BOK Financial, BOKF, Steven Bangert, Director, Insider Sale, Form 4, 10b5-1 Plan, Beneficial Ownership, Common Stock