Form 4: Fifth Third Bancorp EVP Robert Shaffer Reports Stock Transactions
SEC Form 4 Filing
Robert Shaffer, EVP and Chief Risk Officer of Fifth Third Bancorp, reports the exercise of stock appreciation rights and subsequent disposition of shares to cover taxes.
Summary
- Robert Shaffer, an Executive Vice President and Chief Risk Officer at Fifth Third Bancorp, filed a Form 4 detailing changes in beneficial ownership.
- On May 16, 2024, Shaffer exercised stock appreciation rights, acquiring 9,945 shares at $19.01 and 17,045 shares at $18.11.
- Simultaneously, Shaffer disposed of 7,062 shares at $38.60 and 11,875 shares at $38.60 to satisfy tax obligations.
- Following these transactions, Shaffer directly owns 194,912.7769 shares of Fifth Third Bancorp common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Executive stock transactions are a common occurrence in publicly traded companies, particularly in the financial sector.
- Similar filings are regularly made by executives at comparable companies like JPMorgan Chase, Bank of America, and Wells Fargo.
- The exercise of stock options and subsequent sale of shares to cover taxes is a standard practice.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 04/14/2015 | Grant date of stock appreciation rights exercisable in fourths beginning on the first anniversary of the grant date with one-fourth of the total grant vesting annually over a four-year period. |
| 04/19/2016 | Grant date of stock appreciation rights exercisable in fourths beginning on the first anniversary of the grant date with one-fourth of the total grant vesting annually over a four-year period. |
| 05/16/2024 | Date of transaction: exercise of stock appreciation rights and disposition of shares for tax obligations. |
| 05/20/2024 | Date of signature on the Form 4 filing. |
| 04/14/2025 | Expiration date of stock appreciation rights granted on 04/14/2015. |
| 04/19/2026 | Expiration date of stock appreciation rights granted on 04/19/2016. |
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