Form 4: First US Bancshares Director John C. Gordon Reports Acquisition of Phantom Stock Units

Director John C. Gordon reports acquiring phantom stock units convertible to common stock in First US Bancshares, Inc.

Summary

• On March 28, 2024, John C. Gordon, a director of First US Bancshares, Inc. (FUSB), acquired phantom stock units under the company's Non-Employee Directors' Deferred Compensation Plan.
• The transaction involved the acquisition of 477.97 phantom stock units, which are convertible to common stock on a 1-for-1 basis.
• These units include 121.60 shares attributable to quarterly dividends accrued under the plan.
• Following the reported transaction, Gordon directly owns 23,425.14 phantom stock units.
• The phantom stock units are to be settled in common stock at the end of the deferral period.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and alignment of director interests with the company's performance.

Positives

• The acquisition of phantom stock units by a director demonstrates alignment with the company's long-term performance.
• Accrual of dividends within the deferred compensation plan provides additional value to the director.

Future Outlook

The phantom stock units will be settled in common stock at the end of the deferral period, indicating a future increase in the director's common stock holdings.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

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

Key Dates