Form 4: First Horizon Corp: Executive Sells Shares for Tax Withholding

Anthony J. Restel, SEVP and Chief Banking Officer of First Horizon Corp, reported a disposition of 17,628 shares of common stock on May 12, 2026, primarily to cover tax withholding obligations.

Summary

• Anthony J. Restel, a Senior Executive Vice President and Chief Banking Officer at First Horizon Corp, reported a transaction involving 17,628 shares of common stock on May 12, 2026.
• The transaction was a disposition of these shares, with a reported price of $23.9 per share.
• This disposition was due to the mandatory withholding of shares to cover taxes associated with a previously granted performance stock unit award.
• Following this transaction, Restel beneficially owns 658,235 shares of common stock directly.
• An additional 19,523 shares are held indirectly in an IRA.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. While it involves a significant number of shares, the transaction is clearly for tax withholding purposes, a routine event for executives receiving stock awards, and not indicative of a sale based on market outlook.

Negatives

• A significant number of shares (17,628) were disposed of by a key executive, which could be perceived negatively by the market, although it was for tax purposes.
• The disposition of shares for tax withholding indicates that the executive is realizing gains from previously awarded stock units, which is a normal part of executive compensation but involves a reduction in direct shareholding.

Risks

• While the disposition was for tax withholding, any significant sale by an executive can sometimes be misinterpreted by the market as a lack of confidence in the company's future performance.
• The company's stock price may be subject to short-term fluctuations based on market interpretation of executive transactions, even if for non-trading reasons.

Future Outlook

No specific future outlook or guidance is provided in this Form 4 filing, as it solely reports a change in beneficial ownership due to tax withholding.

Industry Context

StockSavvy.ai notes that executive stock sales for tax withholding are common and generally not indicative of a change in management's outlook on the company's performance. However, the volume of shares transacted can sometimes attract market attention.

Stakeholder Impact

• Shareholders: The disposition is for tax withholding, so it is not a direct sale of shares by the executive based on market views. However, the reduction in direct holdings by a senior officer might be noted.
• Employees: This transaction is related to executive compensation and does not directly impact other employees.
• Creditors/Suppliers/Customers: No direct impact is expected from this type of filing.

Next Steps

• Continued monitoring of executive stock transactions for any patterns that might indicate changes in insider confidence.
• Review of First Horizon Corp's upcoming financial reports for overall company performance and strategic updates.

Key Dates

Keywords

First Horizon Corp, FHN, Form 4, SEC Filing, Executive Stock Sale, Tax Withholding, Beneficial Ownership, Stock Units, Anthony J. Restel