Form 4: Carter Bankshares COO Speare Receives Restricted Stock

Carter Bankshares' SEVP and Chief Operating Officer, Matthew M. Speare, was granted 5,295 shares of restricted common stock with future vesting schedules.

Summary

• Matthew M. Speare, SEVP, Chief Operating Officer of Carter Bankshares, Inc. (CARE), was granted restricted stock awards.
• On February 25, 2026, Speare acquired 2,220 shares of common stock as restricted stock awards with a 3-year vesting schedule (1/3 each year).
• On the same date, Speare acquired an additional 3,075 shares of common stock as restricted stock awards with a 3-year cliff vesting schedule.
• The acquisition price for both awards was $0.
• Following these transactions, Speare's direct beneficial ownership of common stock increased to 27,204 shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, indicating management's continued commitment and alignment with shareholder interests through long-term equity incentives.

Positives

• Granting of restricted stock awards aligns management's interests with shareholders.
• Increased beneficial ownership by a key executive demonstrates confidence in the company's future.

Negatives

• No immediate cash value from these awards as they are restricted and vest over time.
• Full ownership is contingent on continued employment and meeting vesting conditions.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that restricted stock awards are a common form of executive compensation in the banking sector, aiming to retain key talent and align their long-term interests with shareholder value creation.

Comparison to Industry Standards

• Restricted stock awards with 3-year vesting are standard practice for executive compensation in the financial services industry.
• Practices are comparable to regional banks like Truist Financial (TFC) or Synovus Financial (SNV) which also utilize long-term equity incentives to retain and motivate senior leadership.

Corporate Governance

Stakeholder Impact

• Shareholders: Potential positive impact due to increased alignment of executive interests with long-term company performance.
• Management: Increased equity stake and long-term incentive.

Next Steps

• Vesting of 2,220 restricted shares will occur in one-third increments annually over three years, starting February 25, 2027.
• Vesting of 3,075 restricted shares will occur as a 3-year cliff on February 25, 2029.

Key Dates

Recommendation

The grant of restricted stock awards to a key executive, Matthew M. Speare, aligns his long-term incentives with shareholder value creation. While not a direct indicator of immediate financial performance, it signals management's commitment and confidence in the company's future, supporting a 'hold' recommendation for existing investors.

Keywords

Carter Bankshares, CARE, Matthew M. Speare, Restricted Stock, Stock Award, Executive Compensation, Insider Trading, Form 4, Beneficial Ownership