Form 4: First Horizon Corp Executive Popwell Receives Restricted Stock Units
SEC Form 4 Filing
David T. Popwell, SEVP Sr Strategic Executive at First Horizon Corp, reports the acquisition of restricted stock units.
Summary
- On February 11, 2025, David T. Popwell, a Senior Executive Vice President at First Horizon Corp, acquired 25,858 shares of common stock.
- These shares were granted as restricted stock units, which will vest on March 2, 2028.
- Following this transaction, Popwell directly owns 545,784 shares of First Horizon Corp common stock.
- Popwell also indirectly owns 3,111 shares through a 401(k) plan.
- A Power of Attorney was executed on August 15, 2024, granting authority to Shannon M. Hernandez, Peter V. Letsou, Maygan Pokabla, and John A. Niemoeller to act on Popwell's behalf for SEC filings.
Sentiment
Score: 7
Explanation: The document reflects a routine executive compensation transaction, which is generally neutral to positive as it aligns executive interests with shareholder value.
Positives
- The grant of restricted stock units aligns Popwell's interests with the long-term performance of First Horizon Corp.
Future Outlook
The document does not contain specific forward-looking statements regarding the company's financial performance.
Industry Context
This filing is a routine disclosure related to executive compensation and insider transactions, common in the financial services industry.
Comparison to Industry Standards
- Executive compensation packages including restricted stock units are a standard practice in the banking industry to incentivize and retain key personnel.
- Comparable companies like Regions Financial Corporation and Truist Financial Corporation also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The grant of restricted stock units could have a slightly dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 2024/08/15 | Power of Attorney executed, granting authority for SEC filings. |
| 2025/02/11 | Grant of 25,858 restricted stock units to David T. Popwell. |
| 2025/02/14 | Date of signature for the Form 4 filing. |
| 2028/03/02 | Vesting date for the restricted stock units. |
Keywords
Form 4, First Horizon Corp, FHN, David T. Popwell, Restricted Stock Units, Beneficial Ownership, Section 16(a), Power of Attorney
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