Form 4: First Horizon Executive Reports Preferred Stock Redemption

Anthony J. Restel, SEVP and Chief Banking Officer of First Horizon Corp, reported the redemption of 3,050 depositary shares.

Summary

• Anthony J. Restel, SEVP and Chief Banking Officer, reported the disposal of 3,050 depositary shares of First Horizon Corp.
• The transaction occurred on May 1, 2026, due to the issuer's redemption of all outstanding shares of its 6.600% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C.
• The redemption price for the depositary shares was $25 per share, representing a 1/400th interest in the underlying preferred stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing reflecting a routine corporate capital redemption.

Positives

• The redemption of preferred stock indicates the company has sufficient liquidity to retire higher-cost or legacy capital instruments.

Negatives

• The reporting person no longer holds these specific depositary shares following the mandatory redemption.

Risks

• None identified; this is a standard corporate redemption event.

Future Outlook

No forward-looking guidance provided in this filing.

Industry Context

StockSavvy.ai notes that the redemption of perpetual preferred stock is a common capital management strategy for regional banks to optimize their balance sheets and reduce dividend obligations.

Comparison to Industry Standards

• The redemption at par value ($25 per depositary share) is consistent with standard terms for fixed-to-floating rate preferred securities in the banking sector.

Stakeholder Impact

• Shareholders are impacted by the reduction in outstanding preferred equity, which may improve common equity earnings per share metrics.

Next Steps

• None

Key Dates

Keywords

First Horizon, FHN, Form 4, Insider Trading, Preferred Stock, Redemption