Form 4: Enterprise Financial Services Officer Acquires Shares Under Employee Stock Purchase Plan

Douglas Bauche, SEVP and Chief Credit Officer of Enterprise Financial Services Corp, acquired 431 shares of common stock through the company's Employee Stock Purchase Plan at a price of $46.84 per share.

Summary

• Douglas Bauche, SEVP, Chief Credit Officer of Enterprise Financial Services Corp (EFSC), acquired 431 shares of EFSC common stock on June 30, 2025.
• The acquisition was made pursuant to the company's 2018 Employee Stock Purchase Plan (ESPP) for the purchase period of January 1, 2025, through June 30, 2025.
• Shares were acquired at a price of $46.84 per share, which represents 85% of the closing price of the Issuer's common stock on June 30, 2025.
• Following this transaction, Douglas Bauche directly beneficially owns 24,325 shares of common stock.
• An additional 3,023 shares are indirectly held in a unitized stock fund through the Company's 401(k) Plan.
• The filing also details various non-qualified stock options and Restricted Share Units (RSUs) held by Mr. Bauche, with future vesting and exercisability dates contingent on continued employment.

Sentiment

Score: 6

Explanation: The acquisition of shares by a senior officer, even through a routine ESPP, generally indicates a positive alignment of interests and confidence in the company. No negative information is present.

Positives

• The acquisition of shares by a senior officer indicates continued alignment of interests with shareholders.
• Participation in the Employee Stock Purchase Plan demonstrates commitment to the company.

Risks

• Vesting of stock options and Restricted Share Units is subject to the continued employment of the reporting person.

Future Outlook

The document outlines future vesting schedules for various stock options and Restricted Share Units, contingent on continued employment, indicating future equity compensation for the reporting person.

Management Comments

• The reporting person is voluntarily reporting the acquisition of shares of the Issuer's common stock pursuant to the Issuer's 2018 Employee Stock Purchase Plan ('ESPP') for the ESPP purchase period of January 1, 2025, through June 30, 2025.
• In accordance with the terms of the ESPP, the reported shares were acquired based on 85% of the closing price of the Issuer's common stock on June 30, 2025.
• These securities are represented by units held in a unitized stock fund through the Company's 401(k) Plan. The unitized stock fund consists of cash and common stock in amounts that vary from time to time.
• Options and RSUs become exercisable/vest subject to continued employment by the reporting person.

Industry Context

NA

Stakeholder Impact

• Shareholders: The acquisition by a senior officer may be viewed as a positive signal of management's belief in the company's future, aligning management interests with shareholder interests.
• Employees: The existence of an Employee Stock Purchase Plan (ESPP) and Stock Incentive Plan indicates company programs designed to incentivize and retain employees.

Next Steps

• Future vesting of Non-Qualified Stock Options in Q1 2025, Q1 2026, Q1 2027, and Q1 2028, subject to continued employment.
• Future vesting of Restricted Share Units in Q1 2026, Q1 2027, Q1 2028, and specific installments on February 24, 2026, and February 24, 2028, subject to continued employment.

Key Dates

Keywords

Enterprise Financial Services Corp, EFSC, Douglas Bauche, SEC Form 4, Insider Trading, Employee Stock Purchase Plan, ESPP, Stock Options, Restricted Share Units, RSU, Beneficial Ownership, Corporate Officer, Financial Services