Form 4: First Bancshares CFO Donna T. Rutland (Lowery) Reports Stock Transactions
SEC Form 4 Filing
Donna T. Rutland (Lowery), CFO of First Bancshares Inc, reports the disposition and acquisition of company stock related to vesting of restricted stock units and tax obligations.
Summary
- On December 15, 2024, Donna T. Rutland (Lowery), the Chief Financial Officer of First Bancshares Inc, engaged in transactions involving the company's common stock.
- These transactions included the disposition of shares to cover tax obligations related to the vesting of restricted stock units.
- Specifically, shares were disposed of at a price of $36.17 to cover taxes associated with restricted stock grants from various dates between March 1, 2020, and February 15, 2024.
- Lowery also acquired 4,148 shares of restricted stock on December 15, 2024, though 1,756 of these shares were immediately forfeited to cover taxes.
- Following these transactions, Lowery directly owns 52,550 shares of First Bancshares Inc.
- 2,392 shares will vest on December 15, 2029.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports routine transactions related to stock-based compensation and tax obligations. There is no indication of positive or negative sentiment towards the company's prospects.
Industry Context
Form 4 filings are standard disclosures required by the SEC when corporate insiders, like the CFO, trade their company's stock. These filings provide transparency to the market regarding insider activity.
Comparison to Industry Standards
- Form 4 filings are a standard regulatory requirement for all publicly traded companies in the United States.
- Companies like JP Morgan Chase & Co, Bank of America, and Wells Fargo also have their executives file Form 4s when they trade company stock.
- The information disclosed in these forms is used by investors to gauge the sentiment of company insiders and their confidence in the company's future prospects.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders as they are related to executive compensation and tax obligations.
- The filing provides transparency to shareholders regarding insider transactions, which can influence investor sentiment.
Key Dates
| Date | Description |
|---|---|
| March 1, 2020 | Date of restricted stock grant, 1,717 shares remaining after tax surrender, vested on 12-15-24. |
| July 17, 2020 | Date of restricted stock grant, 463 shares remaining after tax surrender, vested on 12-15-24. |
| March 1, 2021 | Date of restricted stock grant, 2,065 shares remaining after tax surrender, vested on 12-15-24. |
| March 1, 2022 | Date of restricted stock grant, 1,687 shares remaining after tax surrender, vested on 12-15-24. |
| May 19, 2022 | Date of restricted stock grant, 5,984 shares remaining after tax surrender, vested on 12-15-24. |
| February 17, 2023 | Date of restricted stock grant, 3,069 shares remaining after tax surrender, vested on 12-15-24. |
| May 25, 2023 | Date of restricted stock grant, 1,938 shares remaining after tax surrender, vested on 12-15-24. |
| February 15, 2024 | Date of restricted stock grant, 2,402 shares remaining after tax surrender, vested on 12-15-24. |
| December 15, 2024 | Date of transactions: disposition of shares for taxes and acquisition of restricted stock. |
| December 15, 2029 | Date of vesting for 2,392 restricted shares. |
| 12/17/2024 | Date of signature. |
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