Form 4: First Financial Bankshares CAO Ronald Butler II Reports Changes in Beneficial Ownership
SEC Form 4
Ronald David Butler II, CAO of First Financial Bankshares, reports the vesting and subsequent deferral of performance stock units into deferred stock units under the Supplemental Executive Retirement Plan.
Summary
- On March 21, 2025, Ronald David Butler II, CAO of First Financial Bankshares Inc. (FFIN), reported changes in his beneficial ownership of the company's stock.
- Mr. Butler acquired 2,542 shares of common stock upon the vesting of performance stock units.
- Simultaneously, he disposed of 2,542 shares of common stock, deferring them into deferred stock units under the First Financial Bankshares, Inc. Supplemental Executive Retirement Plan (SERP).
- Following these transactions, Mr. Butler directly owns 161,664 shares of common stock and 5,027 deferred stock units.
- The performance stock units were previously granted on August 16, 2022, and were subject to performance criteria other than the issuer's stock price.
- The deferred stock units are payable upon Mr. Butler's termination of employment.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The deferred stock units are payable upon Mr. Butler's termination of employment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted performance stock units and their subsequent deferral into a retirement plan, a common practice for executive compensation.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects the vesting and deferral of previously granted compensation.
- The transaction impacts Mr. Butler's compensation and retirement planning.
Key Dates
| Date | Description |
|---|---|
| 2022-08-16 | Date of grant for the performance stock units that vested. |
| 2022-07-26 | Effective date of the amended and restated Supplemental Executive Retirement Plan (SERP). |
| 2025-03-21 | Date of transaction: vesting of performance stock units and deferral into deferred stock units. |
| 2025-03-25 | Date of signature on the Form 4 filing. |
Keywords
beneficial ownership, Form 4, First Financial Bankshares, FFIN, Ronald David Butler II, performance stock units, deferred stock units, Supplemental Executive Retirement Plan, SERP, vesting, deferral, CAO
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