Form 4: First American Financial Corp: Officer Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Lisa W. Cornehl, SVP and Chief Legal Officer of First American Financial Corp, reports acquisition and disposal of common stock and unvested Restricted Stock Units (RSUs) on February 24, 2025.
Summary
- Lisa W. Cornehl, SVP, Chief Legal Officer of First American Financial Corp, filed a Form 4 detailing changes in beneficial ownership.
- On February 24, 2025, Cornehl acquired 9,432 shares of common stock and disposed of 1,489 shares to cover tax liabilities related to vesting restricted stock units at a price of $63.42.
- Following these transactions, Cornehl beneficially owns 26,881.96 shares of common stock.
- The reported holdings include unvested Restricted Stock Units (RSUs) that vest in annual increments over the next few years.
Sentiment
Score: 5
Explanation: This is a neutral regulatory filing. It doesn't indicate positive or negative sentiment, but rather reports required transactions.
Industry Context
This filing is a routine disclosure related to insider transactions and is a standard practice for publicly traded companies. It provides transparency into the trading activities of company officers.
Comparison to Industry Standards
- Form 4 filings are standard practice across all publicly traded companies in the US and are mandated by the SEC.
- The vesting schedules of the RSUs are typical for executive compensation packages.
- Comparable companies such as Fidelity National Financial and Stewart Information Services also have similar insider transaction reporting requirements.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
- It assures stakeholders that company officers are adhering to regulations regarding stock ownership and trading.
Key Dates
| Date | Description |
|---|---|
| 02/22/2023 | First anniversary of the original grant of 1,694 RSUs, with vesting in four equal annual increments commencing on this date. |
| 02/16/2024 | First anniversary of the original grant of 4,512 RSUs, with vesting in three equal annual increments commencing on this date. |
| 02/24/2025 | Date of transaction: acquisition of 9,432 shares and disposal of 1,489 shares for tax liability. |
| 02/22/2025 | First anniversary of the original grant of 6,734 RSUs, with vesting in three equal annual increments commencing on this date. |
| 02/26/2025 | Date of signature for the Form 4 filing. |
| 02/24/2026 | First anniversary of the grant of 9,432 RSUs vesting in three equal annual increments commencing on this date. |
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