Form 4: City Holding Co. Executive Exercises Stock Options and Acquires Shares
SEC Form 4 Filing
John A. Derito, EVP of Commercial Banking at City Holding Co., exercised stock options and acquired 2,338 shares of common stock at $66.32 per share on May 10, 2024.
Summary
- On May 10, 2024, John A. Derito, an Executive Vice President at City Holding Co. (CHCO), exercised stock options to acquire 2,338 shares of common stock at a price of $66.32 per share.
- Following this transaction, Derito directly owns 34,256 shares of City Holding Co.
- The transaction involved the exercise of options granted under the company's 2013 Incentive Plan, which are subject to both time-based and performance-based vesting schedules.
- Derito also holds various restricted stock units (RSUs) that are scheduled to vest in tranches over the coming years.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing. The sentiment is neither positive nor negative.
Positives
- The executive's decision to exercise stock options and increase their holdings could be interpreted as a positive signal about their confidence in the company's future prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Monitoring these transactions can provide insights into management's perspective on the company's valuation and future prospects.
Stakeholder Impact
- The transaction could have a minor positive impact on shareholder sentiment if viewed as a sign of confidence from the executive.
Key Dates
| Date | Description |
|---|---|
| 02/26/2018 | Vesting date for 600 stock options. |
| 02/26/2019 | Vesting date for 600 stock options. |
| 02/22/2020 | Vesting date for 1,033 stock options. |
| 02/26/2020 | Vesting date for 600 stock options. |
| 02/26/2021 | Vesting date for 1,033 stock options. |
| 02/26/2021 | One-third of 236 restricted stock units are scheduled to vest. |
| 02/24/2022 | One-third of 464 restricted stock units are scheduled to vest. |
| 02/22/2022 | Vesting date for 1,034 stock options. |
| 02/26/2022 | One-third of 236 restricted stock units are scheduled to vest. |
| 02/23/2023 | One-third of 690 restricted stock units are scheduled to vest. |
| 02/26/2023 | One-third of 236 restricted stock units are scheduled to vest. |
| 02/24/2023 | One-third of 464 restricted stock units are scheduled to vest. |
| 02/22/2024 | One-third of 560 restricted stock units are scheduled to vest. |
| 02/23/2024 | One-third of 690 restricted stock units are scheduled to vest. |
| 02/24/2024 | One-third of 464 restricted stock units are scheduled to vest. |
| 02/25/2025 | Options shares will vest. |
| 02/23/2025 | One-third of 579 restricted stock units are scheduled to vest. |
| 02/23/2025 | One-third of 690 restricted stock units are scheduled to vest. |
| 02/22/2025 | One-third of 560 restricted stock units are scheduled to vest. |
| 02/23/2026 | One-third of 579 restricted stock units are scheduled to vest. |
| 02/22/2026 | One-third of 560 restricted stock units are scheduled to vest. |
| 02/21/2027 | Expiration date for stock options. |
| 02/23/2027 | One-third of 579 restricted stock units are scheduled to vest. |
| 05/10/2024 | Date of the reported transaction where stock options were exercised. |
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