Form 4: Finwise Bancorp Executive Reports Routine Stock Transaction for Tax Withholding

Robert Keil, EVP and Chief FinTech Officer of FinWise Bank, reported the withholding of 2,143 shares of Finwise Bancorp common stock to cover tax obligations related to the vesting of restricted stock awards.

Summary

• Robert Keil, Executive Vice President and Chief FinTech Officer of FinWise Bank (a wholly owned subsidiary of Finwise Bancorp), filed a Form 4 with the SEC.
• The filing details a transaction on May 28, 2025, where 2,143 shares of Finwise Bancorp common stock were disposed of.
• This disposition was a non-discretionary event, representing shares withheld by the issuer to satisfy income tax withholding and remittance obligations upon the vesting and net settlement of previously granted restricted stock awards.
• The shares were valued at $14.49 per share for the purpose of this tax-related transaction.
• Following this transaction, Mr. Keil directly beneficially owns 57,928 shares of common stock.
• Additionally, Mr. Keil indirectly beneficially owns 8,440 shares of common stock, comprising 2,440 shares in an IRA for his wife and 6,000 shares in another IRA.

Sentiment

Score: 5

Explanation: The document reports a routine, non-discretionary transaction (tax withholding) related to executive compensation, which is neutral in terms of company performance or outlook.

Future Outlook

This Form 4 filing is a report of a past transaction and does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• "Represents shares of common stock that have been withheld by the Issuer to satisfy income tax withholding and remittance obligations upon the vesting and net settlement of previously granted restricted stock awards."

Industry Context

This filing reports a routine insider transaction related to executive compensation, specifically the tax withholding upon the vesting of restricted stock awards. Such transactions are standard practice across publicly traded companies, particularly in the financial services sector, and do not typically reflect broader industry trends or competitive dynamics.

Comparison to Industry Standards

• The withholding of shares for tax purposes upon the vesting of restricted stock awards is a common and standard practice for equity compensation plans across various industries, including financial services.
• This transaction aligns with typical executive compensation structures where equity awards are granted and subsequently vest, triggering tax obligations that are often settled by withholding a portion of the shares.

Related Party Transactions

• The transaction involves the withholding of shares by Finwise Bancorp from an executive (Robert Keil) to cover tax obligations related to his equity compensation, which is a standard related-party dealing within the scope of executive compensation.

Stakeholder Impact

• Shareholders: The withholding of shares for tax purposes is a standard component of equity compensation plans and results in a minor, expected adjustment to the outstanding share count, with no significant impact on overall shareholder value.
• Employees: This transaction specifically relates to executive compensation and does not directly impact the broader employee base.

Key Dates

Keywords

Finwise Bancorp, FINW, Form 4, Insider Transaction, Stock Ownership, Restricted Stock Awards, Tax Withholding, Executive Compensation, Robert Keil