Form 4: First Horizon Corp Executive Susan L. Springfield Reports Stock Transactions

Susan L. Springfield, a Senior EVP & Chief Credit Officer at First Horizon Corp, reported the disposal of shares to cover withholding taxes related to vesting restricted stock units.

Summary

• On March 4, 2024, Susan L. Springfield, a Senior EVP & Chief Credit Officer at First Horizon Corp (FHN), disposed of 5,602 shares of common stock at a price of $14.33.
• Additionally, on the same day, Springfield disposed of 8,787 shares of common stock, also at $14.33.
• These transactions were due to mandatory withholding of shares to cover withholding taxes associated with the vesting of restricted stock units.
• Following these transactions, Springfield directly owns 318,173 shares of First Horizon Corp common stock.
• Springfield also indirectly owns 6,186 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Executive stock transactions are a common occurrence in publicly traded companies, particularly in the financial sector.
• Similar filings are regularly made by executives at companies like Bank of America (BAC), JPMorgan Chase (JPM), and Citigroup (C) to report changes in their beneficial ownership of company stock.
• The reporting requirements are standardized by the SEC to ensure transparency and prevent insider trading.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, as they are related to tax obligations of an executive.
• The filing provides transparency to stakeholders regarding the executive's stock ownership.

Key Dates