Form 4: Finwise Bancorp Executive Richard Thiessens Reports Routine Stock Withholding for Tax Obligations

Finwise Bancorp's EVP and Chief Technology Officer, Richard Thiessens, reported the withholding of 1,732 shares of common stock valued at $14.49 per share to cover tax obligations related to vested restricted stock awards.

Summary

• Richard Thiessens, EVP and Chief Technology Officer of FinWise Bank, a wholly owned subsidiary of Finwise Bancorp, reported a transaction on May 28, 2025.
• The transaction involved the disposition of 1,732 shares of Finwise Bancorp common stock.
• These shares were withheld by the Issuer at a price of $14.49 per share to satisfy income tax withholding and remittance obligations.
• This withholding occurred upon the vesting and net settlement of previously granted restricted stock awards.
• Following this transaction, Mr. Thiessens beneficially owns 54,539 shares of Finwise Bancorp common stock directly.

Sentiment

Score: 5

Explanation: The transaction is a routine tax withholding event for vested equity awards, which is a neutral event in terms of company performance or insider sentiment, reflecting standard compensation practices.

Positives

• The transaction indicates the vesting of previously granted restricted stock awards, suggesting the continued execution of executive compensation plans and retention strategies.

Negatives

• A reduction in the number of shares beneficially owned by an insider, although for a routine tax purpose, slightly decreases direct insider ownership.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future financial performance or strategic outlook.

Industry Context

This Form 4 filing represents a routine insider transaction common across publicly traded companies, where executives' vested equity awards are subject to tax withholding, leading to a disposition of shares to cover these liabilities. It does not indicate a discretionary sale or a change in the company's operational or financial performance, aligning with standard executive compensation practices in the financial services industry.

Stakeholder Impact

• Shareholders: The impact on shareholders is minimal as this is a routine tax-related transaction, not a discretionary sale indicating a change in insider confidence or a shift in company fundamentals.

Key Dates

Keywords

Finwise Bancorp, FINW, Richard Thiessens, Insider Transaction, Form 4, Stock Withholding, Restricted Stock Units, Executive Compensation, SEC Filing