Form 4: BOKF Executive Reports Stock Vesting, Tax Withholding

BOK Financial Corp's EVP, Chief HR Officer, Jeffrey A. Reid, reported the vesting of phantom stock, related tax dispositions, and 401(k) plan acquisitions.

Summary

• Jeffrey A. Reid, EVP, Chief HR Officer of BOK Financial Corp, reported transactions on January 13, 2026.
• 69.4212 shares of common stock were disposed of at $122.64 per share to cover tax obligations upon the vesting of phantom stock.
• 597.5788 shares of phantom stock, which vested on January 13, 2026, remain held by the reporting person as a derivative security after an election to defer receipt.
• An additional 130.2759 shares of BOKF common stock were acquired under the BOKF 401(k) plan since the last ownership report.
• Reid's direct beneficial ownership of common stock is 8,647 shares, and indirect ownership via the 401(k) plan is 1,571.2191 shares.
• Direct beneficial ownership of derivative phantom stock is 597.5788 units.

Sentiment

Score: 5

Explanation: The filing is a routine Form 4 detailing executive compensation transactions (vesting, tax withholding, 401k contributions). It does not contain information that would significantly alter the company's outlook or financial health, hence a neutral score.

Positives

• Vesting of phantom stock indicates a successful completion of a performance period or tenure for the executive.
• Acquisition of 130.2759 shares through the 401(k) plan demonstrates continued investment in the company by the executive.

Negatives

• Disposition of 69.4212 shares to cover taxes reduces the executive's direct common stock holdings.

Future Outlook

The phantom stock units become payable upon the reporting person's termination of employment with BOK Financial Corp.

Management Comments

• The reporting person elected to defer receipt of 667 shares of phantom stock issued on February 28, 2023, which vested on January 13, 2026.
• Each share of phantom stock represents a right to receive one share of common stock, or at the Company's election, the cash value thereof.

Industry Context

Form 4 filings are standard disclosures for insiders of publicly traded companies, detailing changes in their beneficial ownership. The transactions reported, such as vesting of equity awards and tax withholding, are routine events in executive compensation across the financial services industry.

Comparison to Industry Standards

• The use of phantom stock and restricted stock units as part of executive compensation is a common practice in the financial services industry, aligning executive incentives with shareholder value.
• Tax withholding upon vesting of equity awards is a standard procedure for executives across all industries, ensuring compliance with tax regulations.
• Participation in 401(k) plans with company stock options is a typical benefit offered to employees, including executives, in publicly traded companies.

Stakeholder Impact

• Shareholders: Minor dilution from equity awards is typical, but the filing itself is a transparency measure.
• Employees: Reflects standard executive compensation practices, which can influence overall compensation philosophy.

Next Steps

• The phantom stock units will become payable upon the reporting person's termination of employment with the Company.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation activities, specifically the vesting of phantom stock, associated tax dispositions, and 401(k) plan contributions. Such transactions are standard and do not provide new material information about the company's operational performance, strategic direction, or financial health that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate as the filing itself does not present a compelling reason to buy or sell.

Keywords

BOKF, BOK Financial Corp, Jeffrey A. Reid, Form 4, Insider Trading, Phantom Stock, Restricted Stock Units, Executive Compensation, Stock Vesting, 401(k) Plan