Form 4: City Holding Co. Executive Reports Changes in Beneficial Ownership
SEC Form 4
Jeffrey Dale Legge, EVP, CAO & CIO of City Holding Co., reports transactions involving common stock and restricted stock units.
Summary
- Jeffrey Dale Legge, an executive at City Holding Co., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- The reported transactions include the acquisition of restricted stock units and adjustments in common stock holdings through the company's 401(k) plan.
- Legge directly owns 9,537 shares of common stock.
- He also indirectly owns 8,581.5932 shares through a 401(k) Plan and Trust as of the 12/31/2024 plan valuation date.
- He holds options to buy 512 shares of common stock at an exercise price of $66.32, vesting in installments until 2/22/2022.
- He also holds multiple tranches of restricted stock units (RSUs) that vest over several years.
Sentiment
Score: 5
Explanation: This is a neutral filing, simply reporting required information about stock ownership changes. It doesn't inherently indicate positive or negative sentiment.
Positives
- The granting of restricted stock units aligns the executive's interests with those of the shareholders.
- The vesting schedules of the RSUs incentivize long-term performance.
Industry Context
Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the trading activities of company insiders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
- The vesting schedules of the RSUs can incentivize the executive to focus on long-term value creation.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | 401(k) Plan valuation date for share totals. |
| 02/22/2020 | Vesting date for 512 stock options. |
| 02/22/2021 | Vesting date for 512 stock options. |
| 02/22/2022 | Vesting date for 512 stock options and one-third of 163 RSUs. |
| 02/23/2023 | Vesting date for one-third of 328 RSUs. |
| 02/24/2023 | Vesting date for one-third of 163 RSUs. |
| 02/22/2024 | Vesting date for one-third of 408 RSUs. |
| 02/23/2024 | Vesting date for one-third of 328 RSUs. |
| 02/24/2024 | Vesting date for one-third of 163 RSUs. |
| 02/22/2025 | Vesting date for one-third of 408 RSUs. |
| 02/23/2025 | Vesting date for one-third of 328 RSUs. |
| 03/26/2025 | Date of transaction for 346 Restricted Stock Units. |
| 02/22/2026 | Vesting date for one-third of 408 RSUs. |
| 02/23/2026 | Vesting date for one-third of 328 RSUs. |
| 03/21/2026 | Vesting date for one-third of 346 RSUs. |
| 02/23/2027 | Vesting date for one-third of 328 RSUs. |
| 02/21/2027 | Expiration date for stock options. |
| 03/21/2027 | Vesting date for one-third of 346 RSUs. |
| 03/21/2028 | Vesting date for one-third of 346 RSUs. |
Keywords
beneficial ownership, Form 4, restricted stock units, common stock, City Holding Co, CHCO, executive compensation, insider trading
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