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

Megan E. McElwee, SVP and Chief Credit Officer at First Mid Bancshares, sold 283 shares of common stock to cover tax obligations related to vested restricted stock.

Summary

• Megan E. McElwee, a Senior Vice President and Chief Credit Officer at First Mid Bancshares, sold 283 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 cover income tax withholding obligations related to the vesting of restricted stock.
• Following the transaction, Ms. McElwee directly owns 4,168.649 shares of First Mid Bancshares common stock.

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 executives at comparable financial institutions regularly sell shares for similar reasons.
• The number of shares sold and the price are not unusual for this type of transaction.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates

Keywords

First Mid Bancshares, FMBH, insider trading, stock sale, executive, Megan E. McElwee, tax obligations, restricted stock