Form 4: City Holding Co Executive Vice President John A. Derito Reports Stock Transactions
SEC Form 4 Filing
EVP of Commercial Banking at City Holding Co, John A. Derito, reports the vesting of restricted stock units and subsequent receipt of common stock.
Summary
- On February 26, 2025, John A. Derito, EVP of Commercial Banking at City Holding Co, reported transactions involving restricted stock units.
- 236 shares of common stock were received at $0 consideration upon vesting of restricted stock units and the satisfaction of a two-year holding period.
- Following the transaction, Derito directly owns 29,455 shares of City Holding Co.
- The restricted stock units are vesting in tranches on various dates in February from 2021 to 2027.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, and the sentiment is neutral.
Positives
- The vesting of restricted stock units indicates that Derito has met certain performance or time-based requirements set by the company.
- Increased share ownership aligns Derito's interests with those of the shareholders.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units as a way to align management's interests with those of shareholders, similar to practices at regional banks like Huntington Bancshares and Fifth Third Bancorp.
- Vesting schedules for restricted stock units typically range from three to five years, which is consistent with the vesting schedule outlined in this filing.
Stakeholder Impact
- The vesting of restricted stock units has a minor dilutive effect on existing shareholders.
- The increased share ownership aligns the executive's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| February 26, 2021 | One-third of 236 restricted stock units are scheduled to vest. |
| February 24, 2022 | One-third of 232 restricted stock units are scheduled to vest. |
| February 26, 2022 | One-third of 236 restricted stock units are scheduled to vest. |
| February 23, 2023 | One-third of 460 restricted stock units are scheduled to vest. |
| February 24, 2023 | One-third of 232 restricted stock units are scheduled to vest. |
| February 26, 2023 | One-third of 236 restricted stock units are scheduled to vest. |
| February 22, 2024 | One-third of 560 restricted stock units are scheduled to vest. |
| February 23, 2024 | One-third of 460 restricted stock units are scheduled to vest. |
| February 24, 2024 | One-third of 232 restricted stock units are scheduled to vest. |
| February 22, 2025 | One-third of 560 restricted stock units are scheduled to vest. |
| February 23, 2025 | One-third of 579 restricted stock units are scheduled to vest, and one-third of 460 restricted stock units are scheduled to vest. |
| February 26, 2025 | 236 shares of common stock received upon vesting of restricted stock units; transaction date. |
| February 27, 2025 | Date of the report. |
| February 22, 2026 | One-third of 560 restricted stock units are scheduled to vest. |
| February 23, 2026 | One-third of 579 restricted stock units are scheduled to vest. |
| February 23, 2027 | One-third of 579 restricted stock units are scheduled to vest. |
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