4/A: Community Trust Bancorp Executive Corrects Beneficial Ownership After Stock Discrepancy

Mark Edward Smith, an Executive Vice President at Community Trust Bancorp, files an amendment to his Form 4 to correct a mistake regarding restricted stock shares taken out of his account in 2017 and 2018.

Summary

• Mark Edward Smith, an Executive Vice President at Community Trust Bancorp, filed an amended Form 4 on March 11, 2024, to correct a previously filed form.
• The amendment addresses a mistake where 26 restricted stock shares were incorrectly removed from his account in 2017 and 2018.
• The error was discovered on March 8th, and instructions were sent to Broadridge to correct the issue.
• The correction has been made, and the amended form reflects the accurate amount of his beneficial ownership, which is 5,456 shares of common stock.

Sentiment

Score: 7

Explanation: The document is a routine correction of an administrative error. While the error itself is a minor negative, the prompt correction is a positive sign.

Positives

• The error in the stock allocation was identified and corrected.

Negatives

• A discrepancy in the number of restricted stock shares held by an executive was identified, requiring a correction.

Risks

• Potential for future errors in stock administration and reporting.

Industry Context

Form 4 filings are a routine part of insider trading regulations, ensuring transparency in the market. Amendments like this are not uncommon and highlight the importance of accurate record-keeping.

Stakeholder Impact

• The correction ensures accurate reporting to shareholders and the SEC.

Key Dates