4/A: CrossFirst Bankshares CFO Benjamin Clouse Amends Form 4 Filing to Correct Share Ownership

Benjamin Clouse, CFO of CrossFirst Bankshares, amends his previous Form 4 filing to correct an error in the reported number of shares owned after the vesting of restricted stock units.

Summary

• Benjamin Clouse, CFO of CrossFirst Bankshares, filed an amendment to his Form 4 on February 27, 2024, to correct a previously reported error.
• The amendment addresses the number of shares owned following the vesting of restricted stock units on February 24, 2024.
• The original filing incorrectly stated that Clouse owned 29,696 shares, while the corrected filing indicates direct ownership of 19,696 shares of common stock.
• On February 24, 2024, 1,797 restricted stock units vested, and 623 shares were disposed of at a price of $13.12.
• Clouse still directly owns 1,796 restricted stock units.
• The restricted stock units were granted on February 22, 2022, and vest in three equal annual installments.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing correcting a minor administrative error. It doesn't indicate any significant positive or negative developments for the company.

Industry Context

This filing is a routine disclosure related to executive compensation and share ownership, common in the financial services industry.

Comparison to Industry Standards

• Form 4 filings are standard practice for executives and directors of publicly traded companies, as mandated by the SEC.
• The vesting schedule of the restricted stock units (three equal annual installments) is a common vesting structure in executive compensation packages.
• Comparable companies such as Bank of America, JP Morgan Chase, and Wells Fargo also have executives who regularly file Form 4s related to stock options and restricted stock units.

Key Dates