Form 4: CrossFirst Bankshares Director Jennifer M. Grigsby Reports Acquisition of Restricted Stock

Director Jennifer M. Grigsby reports acquisition of 3,680 shares of restricted common stock in CrossFirst Bankshares, Inc.

Summary

• On May 17, 2024, Jennifer M. Grigsby, a director of CrossFirst Bankshares, Inc. (CFB), acquired 3,680 shares of common stock at a price of $13.59 per share.
• These shares were awarded as restricted common stock for the May 2024 to May 2025 board year, as part of the director compensation program.
• The shares will vest on May 17, 2025, contingent upon continued service through the vesting date.
• Following the transaction, Grigsby directly owns 27,612 shares of common stock and indirectly owns 38,408 shares through the Jennifer M. Grigsby Living Trust, which includes 17,830 shares of phantom stock credited under the Directors' Deferred Fee Plan.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the director's acquisition of shares indicates confidence in the company. The vesting conditions also align the director's interests with the company's long-term performance.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future performance.
• The vesting of the restricted stock is tied to continued service, aligning the director's interests with the long-term success of the company.

Future Outlook

The director's continued service is tied to the vesting of the restricted stock, suggesting a commitment to the company's future.

Industry Context

Director share acquisitions are common in the banking industry as part of compensation packages designed to align management interests with shareholder value. This transaction is typical for director compensation in publicly traded companies.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash, stock options, and restricted stock units (RSUs).
• Companies like JPMorgan Chase & Co. and Bank of America also use similar compensation structures to incentivize their directors.
• The vesting period of one year is fairly standard for restricted stock awards to directors.

Stakeholder Impact

• Shareholders may view the director's share acquisition positively, as it signals confidence in the company's prospects.
• The director's commitment to continued service through the vesting period aligns their interests with those of the shareholders.

Key Dates