Form 4: First Mid Bancshares CFO Sells Shares to Cover Tax Obligations

Matthew K. Smith, EVP and CFO of First Mid Bancshares, sold 761 shares of common stock to cover income tax withholding obligations related to vested restricted stock.

Summary

• Matthew K. Smith, the Executive Vice President and Chief Financial Officer of First Mid Bancshares, sold 761 shares of the company's common stock on December 13, 2024.
• The sale was executed at a price of $41.23 per share.
• This transaction was to satisfy income tax withholding obligations related to the vesting of restricted stock.
• Following the transaction, Mr. Smith directly owns 13,739 shares of First Mid Bancshares common stock.
• He also indirectly owns 2,005.2822 shares through a deferred compensation plan.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock vests.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the financial industry.
• Many companies use restricted stock as part of executive compensation packages, leading to similar transactions when vesting occurs.
• The number of shares sold and the price are specific to this executive and company, but the underlying reason is a standard practice.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

First Mid Bancshares, FMBH, insider trading, stock sale, Matthew K. Smith, CFO, executive compensation, restricted stock, tax withholding