Form 4: Director Briggs Reports Acquisition of Phantom Stock Units in First US Bancshares

Director Robert S. Briggs reports acquiring phantom stock units in First US Bancshares through a non-employee director deferred compensation plan.

Summary

• On March 28, 2024, Robert S. Briggs, a director of First US Bancshares, Inc. (FUSB), acquired phantom stock units.
• The acquisition was made under the First US Bancshares, Inc. Non-Employee Directors Deferred Compensation Plan.
• Briggs acquired 84.85 phantom stock units at a price of $9.26 each.
• Following the transaction, Briggs beneficially owns 15,875.02 phantom stock units directly.
• These units convert to common stock on a 1-for-1 basis and are settled in common stock at the end of the deferral period.
• The shares are attributable to quarterly dividends accrued under the deferred compensation plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects routine compensation practices and insider alignment with shareholder interests. There are no indications of negative events or concerns.

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment in the company.
• The deferred compensation plan aligns the interests of non-employee directors with those of shareholders.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, such as directors and officers, ensuring fair market practices.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director compensation and ownership.

Key Dates