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

Director Jack W. Meigs reports acquisition of phantom stock units in First US Bancshares through a non-employee director deferred compensation plan.

Summary

• On September 30, 2024, Jack W. Meigs, a director of First US Bancshares, Inc. (FUSB), reported the acquisition of phantom stock units.
• These units were accrued under the First US Bancshares, Inc. Non-Employee Directors Deferred Compensation Plan.
• The phantom stock units convert to common stock on a 1-for-1 basis and are to be settled in common stock at the end of the deferral period.
• The price of the phantom stock units was $11.05.
• Meigs now beneficially owns 5,992.31 phantom stock units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to director compensation, indicating alignment with shareholder interests.

Positives

• The acquisition of phantom stock units reflects continued participation in the company's deferred compensation plan.

Future Outlook

The phantom stock units will be settled in common stock at the end of the deferral period, but the specific timing of this settlement is not detailed in this filing.

Industry Context

Directors often receive stock-based compensation as part of their overall remuneration, aligning their interests with those of shareholders. Deferred compensation plans are a common way to provide this compensation.

Key Dates