Form 4: First Horizon COO Sells Shares for Tax Withholding

First Horizon Corp's Chief Operating Officer, Tammy LoCascio, disposed of 8,308 shares of common stock to cover tax liabilities related to a restricted stock unit vesting.

Summary

• Tammy LoCascio, SEVP, Chief Operating Officer of First Horizon Corp (FHN), reported a transaction on March 2, 2026.
• The transaction involved the disposition of 8,308 shares of Common Stock at a price of $24.16 per share.
• This disposition was a mandatory withholding of shares to pay withholding taxes associated with the vesting of a previously granted restricted stock unit award.
• Following this transaction, Ms. LoCascio directly beneficially owns 370,012 shares of Common Stock and indirectly owns 265 shares through a Spouse IRA.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, reflecting a standard tax-related disposition of shares upon the vesting of restricted stock units, which is a common practice in executive compensation.

Positives

• Vesting of restricted stock units indicates the achievement of performance milestones or tenure, which is generally positive for executive compensation and retention.

Negatives

• A reduction of 8,308 shares in direct beneficial ownership.

Industry Context

StockSavvy.ai notes that routine tax-related dispositions by executives are common and typically do not signal a change in management's outlook on the company's prospects. This is a standard part of executive compensation plans involving restricted stock units.

Comparison to Industry Standards

• This is a standard practice for executives receiving equity compensation. Many companies in the financial sector, such as JPMorgan Chase or Bank of America, have similar executive compensation structures where shares are withheld to cover tax obligations upon vesting of restricted stock units.
• A similar transaction might be seen with an executive at Truist Financial (TFC) or Regions Financial (RF) when their restricted stock units vest, indicating a common industry practice for managing equity awards.

Stakeholder Impact

• Shareholders: Minimal direct impact as it's a routine tax-related transaction, not a discretionary sale indicating a change in sentiment.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary sale of shares by an executive to cover tax obligations upon the vesting of restricted stock units. Such transactions are common and do not typically reflect a change in the executive's confidence in the company or its future prospects. Therefore, it provides no new information that would warrant a change in investment recommendation, suggesting a "hold" position is appropriate based solely on this filing.

Keywords

FHN, First Horizon Corp, Tammy LoCascio, insider transaction, Form 4, stock sale, tax withholding, restricted stock units, executive compensation