Form 4: FCF Executive's Equity Holdings Update

First Commonwealth Financial Corp. EVP Carrie Riggle reports RSU vesting and tax-related share disposition.

Summary

• Carrie L. Riggle, EVP/Human Resources at First Commonwealth Financial Corp. (FCF), reported changes in her beneficial ownership of company stock.
• On January 27, 2026, Riggle acquired 10,500 shares of FCF Common Stock at a price of $0, resulting from the settlement of performance and service-based restricted stock units (RSUs) granted under the 2023-2025 Long-Term Incentive Plan.
• Concurrently, 6,409 shares of Common Stock were disposed of at a price of $0 to satisfy tax withholding obligations related to the RSU settlement.
• Following these transactions, Riggle directly beneficially owns 61,061 shares of Common Stock.
• Additionally, 3,500 service-based restricted stock units awarded in 2023 vested and converted to FCF common stock on a 1-for-1 basis.
• Riggle was also awarded 3,850 service-based stock units in 2024 and 4,050 service-based stock units in 2025, both convertible into FCF common stock on a 1-for-1 basis after a 3-year vesting period.
• The total number of derivative securities (service-based restricted stock units) beneficially owned after these transactions is 7,900.

Sentiment

Score: 5

Explanation: The filing reports routine executive compensation events (RSU vesting and tax withholding) which are neutral in sentiment, reflecting standard corporate governance and compensation practices.

Positives

• The vesting of 10,500 shares of common stock and 3,500 service-based restricted stock units indicates that the executive met the performance and service conditions of the company's Long-Term Incentive Plan.
• The continued award of service-based restricted stock units (3,850 in 2024 and 4,050 in 2025) demonstrates ongoing commitment to executive retention and alignment with long-term shareholder interests.

Negatives

• The disposition of 6,409 shares to cover tax withholding obligations is a standard procedure for equity compensation and does not represent a negative operational or financial event for the company.

Risks

• No specific new risks were disclosed in this routine insider transaction report.

Future Outlook

The filing indicates future vesting events for service-based restricted stock units awarded in 2024 and 2025, which are expected to convert to common stock after their respective 3-year vesting periods.

Industry Context

This filing reflects a routine executive compensation event, specifically the vesting of restricted stock units and subsequent tax withholding, which is a common practice in the financial services industry to align executive incentives with long-term company performance and shareholder value.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of executive long-term incentive plans is a common practice across the financial services industry and broader corporate landscape, aligning executive interests with shareholder value over multi-year vesting periods.
• The disposition of shares to cover tax withholding obligations upon RSU vesting is a standard and expected procedure for equity compensation, consistent with practices observed at peer financial institutions.

Stakeholder Impact

• Shareholders: The vesting of RSUs and subsequent tax-related share disposition are routine and expected events under the company's compensation plans, with minimal direct impact on existing shareholder value beyond the dilution inherent in equity compensation programs.
• Employees: This filing pertains to executive compensation and does not directly impact the broader employee base, though it reflects the company's executive incentive structure.

Next Steps

• The 3,850 service-based restricted stock units awarded in 2024 are expected to vest after a 3-year period.
• The 4,050 service-based restricted stock units awarded in 2025 are expected to vest after a 3-year period.

Key Dates

Keywords

FCF, First Commonwealth Financial Corp, insider transaction, Form 4, executive compensation, restricted stock units, equity award, stock ownership