Form 4: CrossFirst Bankshares Director Michael Robinson Disposes of Shares in Merger with First Busey Corporation

Director Michael Robinson reports the disposal of 66,976 shares of CrossFirst Bankshares common stock due to the merger with First Busey Corporation.

Summary

• Michael Kent Robinson, a director of CrossFirst Bankshares, Inc. (CFB), reported the disposal of 66,976 shares of common stock on March 1, 2025.
• The disposal was a result of the merger between CrossFirst Bankshares and First Busey Corporation, which was agreed upon on August 26, 2024.
• Under the merger agreement, CrossFirst Bankshares merged into Busey, with Busey surviving.
• Each share of CrossFirst common stock was converted into the right to receive 0.6675 shares of First Busey common stock and cash in lieu of fractional shares.
• All remaining unvested CrossFirst Restricted Stock Awards vested as of the merger's closing date.

Sentiment

Score: 7

Explanation: The document reports a completed merger, which is generally a positive event for shareholders as it provides liquidity and potential upside from the acquiring company. The sentiment is neutral to positive.

Future Outlook

The document describes the completion of a merger, so there are no forward-looking statements about CrossFirst Bankshares as an independent entity.

Industry Context

The merger reflects ongoing consolidation trends within the banking industry, where smaller banks are merging with larger institutions to achieve economies of scale and expand their market presence.

Stakeholder Impact

• Shareholders of CrossFirst Bankshares received shares of First Busey Corporation and cash for fractional shares.
• Employees of CrossFirst Bankshares may experience changes as a result of the merger, such as integration into First Busey Corporation.
• Customers of CrossFirst Bankshares will become customers of First Busey Corporation.

Key Dates