Form 4: First Financial Bankshares Inc. Executive Reports Changes in Beneficial Ownership
SEC Form 4 Filing
F. Scott Dueser, Chairman, President, and CEO of First Financial Bankshares Inc., reports a transaction involving deferred stock units.
Summary
- On August 16, 2024, F. Scott Dueser, Chairman, President, and CEO of First Financial Bankshares Inc., reported a change in beneficial ownership.
- The transaction involved the vesting of 6,736 restricted stock units, which were then converted into deferred stock units under the First Financial Bankshares, Inc. Supplemental Executive Retirement Plan (SERP).
- Dueser's receipt of 6,736 shares of common stock was deferred, resulting in the receipt of 6,736 deferred stock units payable upon termination of employment.
- Following the reported transaction, Dueser beneficially owns 958,600 shares of common stock through trusts, 408,310 shares through a partnership, and 496,004 shares through another partnership.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, indicating a neutral sentiment.
Future Outlook
The deferred stock units are payable upon Mr. Dueser's termination of employment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.
Stakeholder Impact
- The transaction affects the executive's compensation structure and deferred compensation plan.
- Shareholders are informed about changes in executive ownership.
Key Dates
| Date | Description |
|---|---|
| 07/26/2022 | Effective date of the amended and restated Supplemental Executive Retirement Plan (SERP). |
| 08/16/2024 | Date of transaction: Vesting of restricted stock units and conversion to deferred stock units. |
| 08/20/2024 | Date of signature on the Form 4 filing. |
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