Form 4: First US Bancshares Director Increases Beneficial Ownership Through Deferred Compensation Plan

Aubrey S. Miller, a Director at First US Bancshares, Inc. (FUSB), has increased beneficial ownership of phantom stock units through the company's deferred compensation plan.

Summary

• Aubrey S. Miller, a Director of First US Bancshares, Inc. (FUSB), acquired 48.62 phantom stock units on June 30, 2025.
• The acquisition occurred at a price of $12.9 per unit.
• These units were accrued under the First US Bancshares, Inc. Non-Employee Directors' Deferred Compensation Plan.
• The acquired units include 2.11 shares attributable to quarterly dividends.
• Following this transaction, Miller beneficially owns a total of 483.47 phantom stock units.
• The phantom stock units convert to common stock on a 1-for-1 basis and are scheduled to be settled in common stock at the end of the deferral period.

Sentiment

Score: 6

Explanation: The document reports a routine insider transaction related to director compensation, which is generally neutral but can be seen as slightly positive as it increases a director's beneficial ownership, aligning interests.

Positives

• A director increasing their beneficial ownership, even through a compensation plan, can signal confidence in the company's future.
• The use of phantom stock units aligns director interests with shareholder value by linking compensation to stock performance.

Future Outlook

The acquired phantom stock units are to be settled in common stock at the end of the deferral period, indicating a future conversion of these units into actual shares.

Industry Context

This transaction represents a routine compensation event for a non-employee director within the banking industry, where equity-based compensation plans are common to align director incentives with long-term company performance.

Comparison to Industry Standards

• The use of deferred compensation plans with phantom stock units is a standard practice for non-employee directors across various industries, including financial services, to provide equity-based compensation without immediate share issuance.
• This mechanism is comparable to similar plans at other regional banks and publicly traded companies that aim to retain and incentivize board members by linking their compensation to the company's stock performance over time.

Corporate Governance

Related Party Transactions

• The acquisition of phantom stock units by Director Aubrey S. Miller under the company's deferred compensation plan constitutes a related party transaction, as it involves a transaction between the company and a member of its board of directors.

Stakeholder Impact

• Shareholders: The transaction aligns the director's financial interests with those of shareholders, as the value of the phantom units is tied to the company's stock performance.
• Employees: No direct impact on employees is indicated by this specific filing.

Next Steps

• Settlement of the phantom stock units into common stock at the end of the deferral period.

Key Dates

Keywords

First US Bancshares, FUSB, SEC Form 4, Insider Transaction, Director Compensation, Phantom Stock Units, Deferred Compensation Plan, Equity Compensation, Banking Sector