Form 4: First Busey Corp Executive Scott A. Phillips Reports Changes in Beneficial Ownership

Scott A. Phillips, Principal Accounting Officer at First Busey Corp, reports transactions involving common stock and derivative securities, including acquisitions through employee stock purchase plans and settlement of performance stock units.

Summary

• On December 31, 2024, Scott A. Phillips acquired 180.041 shares of common stock at $20.0345 per share through the Employee Stock Purchase Plan.
• On January 31, 2025, Phillips acquired 364 shares of common stock related to a grant of Performance Stock Units.
• An additional 48 shares were acquired on January 31, 2025, representing the settlement of accumulated dividend equivalent rights on the Performance Stock Units.
• Also on January 31, 2025, 123 shares were withheld to satisfy tax obligations related to the settlement of Performance Stock Units and dividend equivalent shares at a price of $24.28.
• Finally, on January 31, 2025, 58 shares were acquired representing dividend equivalent rights accrued on Restricted Stock Units.
• Following these transactions, Phillips directly owns 6,717 shares of common stock and indirectly owns 3,759.4844 shares through the Employee Stock Purchase Plan.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports transactions without expressing any positive or negative outlook.

Positives

• The acquisition of shares through the Employee Stock Purchase Plan and vesting of Performance Stock Units indicates confidence in the company's future.
• Settlement of dividend equivalent rights provides additional value to Phillips' holdings.

Negatives

• The withholding of 123 shares for tax obligations reduces the total number of shares directly held by Phillips.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. These transactions can be influenced by factors such as company performance, compensation structures, and personal financial planning.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders and are required by the SEC to ensure transparency in the market.
• The transactions reported are typical for executives who participate in employee stock purchase plans and receive stock-based compensation.
• Comparable companies such as Heartland Financial USA and Wintrust Financial Corporation also have similar insider transaction filings.

Stakeholder Impact

• The transactions may have a minor impact on shareholders by slightly altering the ownership structure.
• Employees participating in the stock purchase plan benefit from the opportunity to acquire company stock.

Key Dates

Keywords

beneficial ownership, First Busey Corp, Form 4, stock transactions, insider trading, Phillips, BUSE, securities