Form 4: First Horizon Corp Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Susan L. Springfield, a Senior EVP & Chief Credit Officer at First Horizon Corp, disposed of shares to cover withholding taxes related to a performance stock unit award.
Summary
- On May 13, 2024, Susan L. Springfield, a Senior EVP & Chief Credit Officer at First Horizon Corp, disposed of 11,009 and 21,418 shares of common stock at a price of $15.79.
- The transactions were due to the mandatory withholding of shares to cover withholding taxes associated with a previously granted performance stock unit award.
- Following the transactions, Springfield directly owns 340,175 shares of First Horizon Corp common stock and indirectly owns 6,241 shares through a 401(k).
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing reflects a routine transaction for tax purposes and doesn't indicate any fundamental change in the company's prospects.
Industry Context
Executive share disposals for tax purposes are a common occurrence, particularly after the vesting of stock awards or option exercises. This filing provides transparency into such transactions at First Horizon Corp.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is related to tax obligations and does not reflect a change in the executive's overall confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 05/13/2024 | Date of the share disposal transaction. |
| 05/14/2024 | Date of signature for the Form 4 filing. |
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