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

Bradley L. Beesley, EVP and CEO of First Mid Wealth Management, sold 508 shares of First Mid Bancshares stock to cover income tax obligations related to vested restricted stock.

Summary

• Bradley L. Beesley, an executive at First Mid Bancshares, sold 508 shares of common stock on December 13, 2024.
• The sale was executed at a price of $41.23 per share.
• This transaction was to cover income tax withholding obligations related to vested restricted stock.
• Following the transaction, Mr. Beesley directly owns 13,353 shares of common stock.
• He also indirectly owns 3,383.7163 shares through a 401K and 6,257.4737 shares through a deferred compensation plan.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative 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 executives at comparable financial institutions such as JP Morgan Chase, Bank of America, and Wells Fargo regularly file similar Form 4 documents when they sell shares for tax purposes.
• The number of shares sold and the price are within the typical range for such transactions.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

First Mid Bancshares, FMBH, insider trading, stock sale, executive, Form 4, Bradley L. Beesley, tax obligations, restricted stock, wealth management