Form 4: CrossFirst Bankshares Executive Jennifer Payne Reports Stock Transactions
SEC Form 4
Jennifer Payne, Chief Risk Officer of CrossFirst Bankshares, reports the vesting and disposal of restricted stock units and subsequent acquisition of common stock.
Summary
- On March 1, 2024, Jennifer Payne, the Chief Risk Officer of CrossFirst Bankshares, had 936 restricted stock units vest.
- These units converted into 936 shares of common stock.
- Also on March 1, 2024, Payne disposed of 325 shares of common stock at a price of $12.69.
- Following these transactions, Payne directly owns 2,861 shares of common stock and 4,334 restricted stock units.
- Payne was also granted 4,334 restricted stock units on March 1, 2024, which vest in three equal annual installments beginning on March 1, 2025.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard compensation practices; therefore, the sentiment is neutral.
Future Outlook
The reporting person will continue to vest in restricted stock units over the next three years, subject to continued employment.
Industry Context
This Form 4 filing is a routine disclosure of stock transactions by a company insider, which is common in the financial industry.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect insider trading activity related to compensation.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Reporting person was granted 2,808 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 03/01/2024 | Vesting of 936 restricted stock units and disposal of 325 shares of common stock. |
| 03/01/2024 | Grant of 4,334 restricted stock units. |
| 03/01/2025 | Approximately 1/3 of the 4,334 restricted stock units vest. |
| 03/01/2026 | Approximately 1/3 of the 4,334 restricted stock units vest. |
| 03/01/2027 | Approximately 1/3 of the 4,334 restricted stock units vest. |
| 03/04/2024 | Date of report. |
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