SCHEDULE: Vanguard Group Reports Zero FB Financial Stake

The Vanguard Group reports zero beneficial ownership in FB Financial Corp common stock following an internal realignment.

Summary

• The Vanguard Group filed an Amendment No. 2 to Schedule 13G for FB Financial Corp, indicating a change in beneficial ownership.
• The Vanguard Group now beneficially owns 0 shares of FB Financial Corp common stock, representing 0% of the class.
• This change stems from an internal realignment within The Vanguard Group, Inc. on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of The Vanguard Group, Inc. will report beneficial ownership separately (on a disaggregated basis).
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these subsidiaries and/or business divisions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily a technical update regarding The Vanguard Group's internal reporting structure rather than a change in investment thesis for FB Financial Corp.

Positives

• Clear disclosure of changes in beneficial ownership reporting structure by a major institutional investor.

Negatives

• The Vanguard Group, Inc. no longer directly holds beneficial ownership of FB Financial Corp common stock, though subsidiaries may.

Risks

• NA

Future Outlook

No forward-looking statements or guidance regarding FB Financial Corp's performance or strategy are provided in this filing.

Management Comments

• On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment. Further in accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

Industry Context

StockSavvy.ai notes that institutional investors like The Vanguard Group frequently adjust their reporting structures due to internal reorganizations or regulatory interpretations, which can lead to changes in reported beneficial ownership without necessarily indicating a change in investment strategy across the entire fund family. This is a common practice for large asset managers to comply with SEC rules on disaggregated reporting.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders of FB Financial Corp: May note the change in reported beneficial ownership by The Vanguard Group, Inc., but the underlying investment by Vanguard's broader fund family through its subsidiaries may still exist.

Key Dates

Keywords

FB Financial Corp, Vanguard Group, Schedule 13G, beneficial ownership, common stock, institutional investor, SEC filing, ownership change