Form 4: First Busey CAO Sells Shares for Tax Obligations

First Busey Corporation's Chief Administrative Officer, Scott A. Phillips, disposed of 151 shares of common stock to cover tax liabilities related to vested restricted stock units.

Summary

• Scott A. Phillips, Chief Administrative Officer (CAO) of First Busey Corp, reported a transaction on December 5, 2025.
• Phillips disposed of 151 shares of First Busey Common Stock at a price of $24.02 per share.
• This disposition was to satisfy tax obligations upon the vesting and settlement of performance-based restricted stock unit awards (ROATCE PSUs) and accrued dividend equivalent shares.
• Following this transaction, Phillips directly beneficially owns 15,844.5334 shares of Common Stock and 2,350 Depositary Shares.
• The Depositary Shares represent a 1/40th interest in the issuer's 8.25% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series B.

Sentiment

Score: 5

Explanation: The transaction is a routine, tax-related disposition of shares following the vesting of restricted stock units, which is a neutral event in terms of company performance or outlook.

Positives

• The vesting of performance-based restricted stock units indicates the achievement of performance targets (Core Return on Average Tangible Common Equity).

Negatives

• Disposition of 151 shares of common stock, although for tax purposes, reduces the insider's direct holdings.

Risks

• The Power of Attorney document highlights the individual's responsibility to comply with Section 13(d) or Section 16 of the Exchange Act, indicating potential compliance risks if not properly managed.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding the company's future performance or strategic direction, focusing solely on an insider's past transaction.

Management Comments

• Shares were withheld to satisfy the related tax obligations upon vesting and settlement of performance-based restricted stock unit awards tied to Core Return on Average Tangible Common Equity (ROATCE PSU) and dividend equivalent shares accrued for such ROATCE PSUs.

Industry Context

This Form 4 filing is a routine disclosure of an insider stock transaction, common across all publicly traded companies. It reflects an individual officer's compensation structure and tax planning rather than broader industry trends or competitive positioning.

Corporate Governance

Stakeholder Impact

• Shareholders: Minimal direct impact as it's a small, routine disposition for tax purposes by an officer, not indicative of a change in company fundamentals or a significant reduction in insider ownership.
• Management: The Power of Attorney streamlines compliance for the reporting officer.

Next Steps

• No specific future actions or milestones are mentioned in this filing beyond the routine compliance requirements for insider transactions.

Key Dates

Keywords

First Busey Corp, BUSE, Scott A. Phillips, CAO, Insider Trading, Form 4, Stock Sale, Restricted Stock Units, Tax Withholding, Corporate Governance