Form 4: Director Aubrey S. Miller Acquires Phantom Stock Units in First US Bancshares, Inc.

Director Aubrey S. Miller acquired phantom stock units convertible to common stock in First US Bancshares, Inc. through a deferred compensation plan.

Summary

• Aubrey S. Miller, a director at First US Bancshares, Inc., acquired phantom stock units on December 31, 2024.
• These units, totaling 36.97, were accrued under the company's Non-Employee Directors' Deferred Compensation Plan.
• The phantom stock units will convert to common stock on a 1-for-1 basis at the end of the deferral period.
• The acquisition also includes 1.23 shares attributable to quarterly dividends accrued under the same plan.
• The price of the derivative security is $12.59 per unit.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns interests. There are no indications of any negative or concerning issues.

Positives

• The acquisition of phantom stock units aligns the director's interests with the company's performance.
• The deferred compensation plan allows for long-term value creation for the director.

Industry Context

This transaction is a routine part of director compensation practices in publicly traded companies, aligning director interests with shareholder value through equity-based incentives.

Comparison to Industry Standards

• Deferred compensation plans using phantom stock units are a common practice for compensating non-employee directors in the financial services industry.
• Many comparable companies, such as regional banks and financial institutions, use similar plans to attract and retain board members.
• The specific terms of the plan, such as the conversion ratio and vesting schedule, are typical for these types of arrangements.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director interests with company performance.

Key Dates

Keywords

phantom stock units, deferred compensation, director, First US Bancshares, FUSB, equity, stock