Form 4: CrossFirst Bankshares Director Mason King Acquires Shares of Restricted Common Stock

Director Mason King acquired 3,680 shares of restricted common stock in CrossFirst Bankshares, Inc. on May 17, 2024, as part of the director compensation program.

Summary

• On May 17, 2024, Mason King, a director of CrossFirst Bankshares, Inc., acquired 3,680 shares of restricted common stock at a price of $13.59 per share.
• These shares were awarded as part of the director compensation program for the May 2024 to May 2025 board year.
• The shares will vest on May 17, 2025, contingent upon continued service through the vesting date.
• Following the transaction, Mr. King directly owns 104,192 shares of common stock, which includes 30,163 shares of phantom stock previously reported.
• Mr. King also indirectly owns 640,352 shares through LKCM Private Discipline Master Fund SPC and 405,264 shares through Luther King Capital Management Corporation, but disclaims beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The acquisition of shares can be seen as a positive sign of alignment with company interests, but it's not a major event.

Positives

• The acquisition of restricted stock aligns the director's interests with the long-term performance of the company.
• The vesting period of one year encourages continued service and commitment from the director.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting of the restricted stock on May 17, 2025, contingent upon continued service.

Management Comments

• The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

Industry Context

This filing is a routine disclosure of a director's stock acquisition, which is common in publicly traded companies as part of executive and director compensation packages. It reflects standard practice in aligning management and shareholder interests.

Comparison to Industry Standards

• Director compensation packages often include restricted stock awards that vest over time, similar to the arrangement for Mason King.
• The vesting period of one year is a fairly standard practice to ensure continued service and commitment from the director.
• Disclaiming beneficial ownership of shares held through investment funds is also a common practice to avoid undue reporting obligations.

Stakeholder Impact

• The acquisition of shares by a director can positively influence shareholder confidence, as it aligns the director's interests with the company's performance.

Key Dates