Form 4: City Holding Co. Executive Michael T. Quinlan Jr. Reports Changes in Beneficial Ownership
SEC Form 4 Filing
EVP of Retail Banking at City Holding Co., Michael T. Quinlan Jr., reports acquisition of restricted stock units and adjustments to common stock holdings.
Summary
- Michael T. Quinlan Jr., EVP of Retail Banking at City Holding Co. (CHCO), filed a Form 4 with the SEC.
- The report details changes in his beneficial ownership of the company's securities.
- Quinlan acquired 696 restricted stock units on February 28, 2024, which vest in three equal installments starting February 23, 2025.
- The report also includes holdings of 605, 510 and 290 restricted stock units.
- Quinlan also reported 5,173 shares of common stock and 2,256.1561 shares held indirectly through a 401(k) plan and trust as of December 31, 2023.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing, reflecting neutral sentiment. The acquisition of restricted stock units could be seen as a slightly positive signal, but it's a routine part of executive compensation.
Positives
- The acquisition of restricted stock units suggests confidence in the company's future performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. Investors often monitor these filings to gauge executive sentiment and potential future stock performance.
Comparison to Industry Standards
- Comparing Quinlan's holdings and transactions to those of executives at peer banks like Huntington Bancshares (HBAN) or Fifth Third Bancorp (FITB) could provide context on the scale of his ownership.
- Analyzing the vesting schedules of his restricted stock units against industry norms for executive compensation packages can offer insights into City Holding Co.'s long-term incentive strategies.
- Reviewing similar Form 4 filings from executives at comparable regional banks can help determine if these transactions are typical or indicative of specific company events.
Stakeholder Impact
- The reported transactions may influence investor perception of the company's stock.
Key Dates
| Date | Description |
|---|---|
| 12/31/2023 | Plan valuation date for 401(k) shares. |
| 02/22/2024 | One-third of 605 restricted stock units are scheduled to vest. |
| 02/23/2023 | One-third of 510 restricted stock units are scheduled to vest. |
| 02/24/2022 | One-third of 290 restricted stock units are scheduled to vest. |
| 02/28/2024 | Transaction date for the acquisition of 696 restricted stock units. |
| 03/28/2024 | Date of the filing. |
| 02/23/2025 | One-third of 696 restricted stock units are scheduled to vest. |
| 02/22/2025 | One-third of 605 restricted stock units are scheduled to vest. |
| 02/23/2024 | One-third of 510 restricted stock units are scheduled to vest. |
| 02/24/2023 | One-third of 290 restricted stock units are scheduled to vest. |
| 02/23/2026 | One-third of 696 restricted stock units are scheduled to vest. |
| 02/22/2026 | One-third of 605 restricted stock units are scheduled to vest. |
| 02/23/2025 | One-third of 510 restricted stock units are scheduled to vest. |
| 02/24/2024 | One-third of 290 restricted stock units are scheduled to vest. |
| 02/23/2027 | Final one-third of 696 restricted stock units are scheduled to vest. |
| 04/01/2024 | Date of signature by attorney-in-fact. |
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