Form 4: First Busey Corp Officer Reports Acquisition of Shares Following Merger Agreement

Scott A. Phillips, Principal Accounting Officer of First Busey Corp, reports the acquisition of 1,016 shares of common stock and adjustments to restricted stock units following the merger agreement with CrossFirst Bankshares, Inc.

Summary

• On March 1, 2025, Scott A. Phillips, Principal Accounting Officer of First Busey Corp, reported acquiring 1,016 shares of common stock at $0.
• Following the transaction, Phillips directly owns 7,733 shares of common stock.
• Phillips also indirectly owns 3,759.4844 shares through the Employee Stock Purchase Plan.
• The acquisition is related to the merger agreement between First Busey Corp and CrossFirst Bankshares, Inc. entered into on August 26, 2024.
• As a result of the merger, Issuer ROATCE PSU's were deemed earned based on actual performance through December 31, 2024, and remain subject to the same terms and conditions (excluding performance-based vesting terms).

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The filing reflects standard insider activity following a merger, suggesting the deal is progressing as planned. The vesting of ROATCE PSUs indicates that the company met certain performance targets.

Positives

• The vesting of restricted stock units tied to performance goals indicates that the company met certain performance targets prior to the merger.

Future Outlook

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

Industry Context

This filing reflects insider activity related to a corporate merger, a common occurrence in the financial services industry as companies seek growth and efficiency through consolidation.

Stakeholder Impact

• Shareholders may be interested in the insider's increased stake in the company following the merger.
• Employees holding restricted stock units are impacted by the vesting terms tied to the merger agreement.

Key Dates