Form 4: CrossFirst Bankshares Director Stogner Acquires Shares in Lieu of Cash Compensation

Director Grey Stogner acquired 6,991 shares of CrossFirst Bankshares common stock on May 17, 2024, in lieu of cash compensation under the Directors' Deferred Fee Plan.

Summary

• On May 17, 2024, Grey Stogner, a director of CrossFirst Bankshares, Inc., acquired 6,991 shares of common stock at a price of $13.59 per share.
• This acquisition was made in lieu of receiving cash compensation, as Stogner elected to receive common stock under the Directors' Deferred Fee Plan.
• The reported transaction increased Stogner's total beneficial ownership to 74,586 shares, which includes 22,072 shares of phantom stock credited under the same plan.
• These phantom stock shares will be settled in common stock upon termination of service as a director.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director taking compensation in stock is generally a good sign, indicating confidence in the company. However, it's a routine transaction under a pre-existing plan.

Positives

• The director's decision to take compensation in stock aligns their interests with those of shareholders.
• The Directors' Deferred Fee Plan allows for a flexible compensation structure.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

Directors receiving stock in lieu of cash compensation is a fairly common practice in the banking industry to align management's interests with shareholders. This is often seen as a positive signal, indicating confidence in the company's future performance.

Comparison to Industry Standards

• Many financial institutions offer similar deferred compensation plans to their directors.
• Comparing CrossFirst Bankshares' director compensation structure to peers like Commerce Bancshares or UMB Financial Corporation would provide a broader context.
• The percentage of compensation taken in stock versus cash can be indicative of a director's confidence in the company's prospects.

Related Party Transactions

• The acquisition of stock by the director in lieu of cash compensation is a related party transaction.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders as it aligns the director's interests with theirs.
• There is no significant impact on employees, customers, suppliers, or creditors.

Key Dates