Form 4: First Mid Bancshares Director Transfers Shares to LLC
SEC Form 4 Filing
Mary Westerhold, a director at First Mid Bancshares, transferred 30,000 shares of common stock from a trust to a limited liability company (LLC) co-managed by her and her husband.
Summary
- On September 19, 2024, Mary Westerhold, a director of First Mid Bancshares, Inc. (FMBH), transferred 30,000 shares of FMBH common stock from a trust to an LLC that she co-manages with her husband.
- The transfer occurred at a price of $40.37 per share.
- This transfer represents a change in the form of beneficial ownership and is exempt from Section 16 reporting requirements.
- Following the reported transaction, Ms. Westerhold indirectly owns 45,892 shares through trusts, 50,236 shares through an LLC, 12,281.7307 shares through a Deferred Compensation Plan, 1,960 shares through an IRA, 56,224 shares through another LLC, 129,869 shares through another LLC, 0 shares through another LLC, 16,454 shares through her spouse's IRA, and 2,200 shares directly.
- Ms. Westerhold also disclaims beneficial ownership of common stock held by certain trusts, except to the extent of her pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, so the sentiment is neither positive nor negative.
Positives
- The transfer of shares to an LLC allows for potential estate planning and asset management benefits for Ms. Westerhold and her husband.
Industry Context
This transaction is a routine disclosure of insider activity and doesn't necessarily indicate a significant shift in the company's outlook or performance. It reflects personal financial management decisions by a company director.
Related Party Transactions
- The transfer of shares to an LLC co-managed by the reporting person and her husband constitutes a related party transaction.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a change in the form of beneficial ownership rather than a sale or purchase of shares on the open market.
Key Dates
| Date | Description |
|---|---|
| 09/19/2024 | Date of the share transfer transaction. |
| 09/20/2024 | Date of signature on the Form 4 filing. |
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