Form 4: CrossFirst Bankshares Executive Exercises Stock Options and Sells Shares
SEC Form 4 Filing
Jennifer M. Payne, Chief Risk Officer of CrossFirst Bankshares, executed stock options and sold shares to cover tax obligations on February 24, 2025.
Summary
- On February 24, 2025, Jennifer M. Payne, the Chief Risk Officer of CrossFirst Bankshares, exercised restricted stock units (RSUs) and sold a portion of the acquired shares to satisfy tax obligations.
- She exercised 936 RSUs, converting them into common stock, and then sold 325 shares at $15.98 per share to cover taxes.
- Following this transaction, she directly owns 4,649 shares of common stock.
- Additionally, she exercised 1,445 RSUs, converting them into common stock, and then sold 501 shares at $15.98 per share to cover taxes.
- Following this transaction, she directly owns 5,593 shares of common stock.
- After these transactions, Payne directly owns 2,889 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The sale of shares to cover tax obligations is a common practice.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of shares outstanding, but the effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 2023-03-01 | Reporting person was granted 2,808 restricted stock units, vesting in three approximately equal annual installments beginning on the first anniversary of the grant date. |
| 2024-03-01 | Reporting person was granted 4,334 restricted stock units, vesting in three approximately equal annual installments beginning on the first anniversary of the grant date. |
| 2025-02-24 | Chief Risk Officer exercised stock options and sold shares. |
| 2025-02-26 | Date of signature for the Form 4 filing. |
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