Form 4: City Holding Co. Executive Vice President David L. Bumgarner Reports Stock Transactions
SEC Form 4 Filing
David L. Bumgarner, EVP & Chief Financial Officer of City Holding Co., reports the vesting of restricted stock units and related transactions.
Summary
- On February 24, 2025, David L. Bumgarner, EVP & Chief Financial Officer of City Holding Co., reported transactions related to restricted stock units.
- 169 shares of common stock were received upon vesting of restricted stock units and the satisfaction of a two-year holding period at a price of $0.
- Following the reported transactions, Bumgarner directly owns 9,776.65 shares of common stock.
- Bumgarner also indirectly owns 115 shares through an IRA and 2,955.7772 shares through a 401(k) Plan and Trust.
- The report also details the vesting schedules for several other restricted stock unit grants.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, and the sentiment is neutral.
Positives
- The vesting of restricted stock units aligns executive compensation with company performance and long-term shareholder value.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are routinely disclosed to the SEC.
Comparison to Industry Standards
- Comparing City Holding Co.'s executive compensation structure to peers like WesBanco, Inc. and United Bankshares, Inc. would provide a broader context.
- Analyzing the vesting schedules and equity ownership percentages relative to similar-sized regional banks can offer insights into the competitiveness of City Holding Co.'s compensation practices.
- Benchmarking against industry surveys on executive compensation in the banking sector can further illuminate whether Bumgarner's equity holdings and vesting schedules are in line with market norms.
Stakeholder Impact
- The vesting of restricted stock units can incentivize management to focus on long-term value creation, benefiting shareholders.
- Executive stock ownership aligns management's interests with those of shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/26/2021 | Initial vesting date for one-third of a restricted stock unit grant. |
| 02/24/2022 | Vesting date for one-third of a restricted stock unit grant. |
| 02/26/2022 | Vesting date for one-third of a restricted stock unit grant. |
| 02/23/2023 | Vesting date for one-third of a restricted stock unit grant. |
| 02/24/2023 | Vesting date for one-third of a restricted stock unit grant. |
| 02/26/2023 | Final vesting date for one-third of a restricted stock unit grant. |
| 02/22/2024 | Vesting date for one-third of a restricted stock unit grant. |
| 02/23/2024 | Vesting date for one-third of a restricted stock unit grant. |
| 02/24/2024 | Final vesting date for one-third of a restricted stock unit grant. |
| 12/31/2024 | Date of the 401(k) Plan & Trust valuation. |
| 02/23/2025 | Vesting date for one-third of a restricted stock unit grant. |
| 02/24/2025 | Date of the reported transaction where 169 shares were received upon vesting of restricted stock units; Vesting date for one-third of a restricted stock unit grant. |
| 02/25/2025 | Date of the form filing. |
| 02/22/2026 | Vesting date for one-third of a restricted stock unit grant. |
| 02/23/2026 | Vesting date for one-third of a restricted stock unit grant. |
| 02/23/2027 | Final vesting date for one-third of a restricted stock unit grant. |
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