Form 4: First Busey Corp Director Reports Acquisition of Shares Following Merger with CrossFirst Bankshares

Director Jennifer M. Grigsby reports acquiring First Busey Corp shares as a result of the merger with CrossFirst Bankshares, according to a Form 4 filing.

Summary

• Jennifer M. Grigsby, a director of First Busey Corp, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates the acquisition of First Busey Corp common stock due to the merger with CrossFirst Bankshares, Inc. which was entered into on August 26, 2024.
• Grigsby acquired 4,073 shares, 2,456 shares, and 11,902 shares of First Busey Corp common stock as a result of the merger.
• These shares were acquired at a price of $0.
• Additionally, 25,637 shares are held indirectly through the Jennifer M. Grigsby Living Trust.
• The merger consideration included 0.6675 shares of First Busey Corp common stock for each share of CrossFirst common stock, plus cash in lieu of fractional shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The merger is complete, and a director is acquiring shares, which suggests confidence. There are no immediate negative implications.

Positives

• The merger with CrossFirst Bankshares has resulted in the acquisition of additional shares by a director, indicating confidence in the combined entity.

Future Outlook

The document does not contain specific forward-looking statements beyond the completion of the merger.

Industry Context

The merger reflects a trend of consolidation in the banking industry, where companies seek to expand their market presence and improve efficiency through strategic combinations.

Key Dates