Form 4: FUSB Director Accrues Phantom Stock Units

FIRST US BANCSHARES Director John Lee McPhearson accrued 61.66 phantom stock units as part of a deferred compensation plan.

Summary

• John Lee McPhearson, a Director of FIRST US BANCSHARES, INC. (FUSB), acquired 61.66 phantom stock units.
• These units were accrued on December 31, 2025, as quarterly dividends under the company's Non-Employee Directors' Deferred Compensation Plan.
• Each phantom stock unit converts to one share of common stock on a 1-for-1 basis.
• The units were valued at $13.97 per unit at the time of accrual.
• Following this transaction, Mr. McPhearson beneficially owns a total of 12,438.85 phantom stock units.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. This is a routine compensation event, but it does show a director increasing their stake, which is generally viewed favorably as it aligns interests.

Positives

• Director John Lee McPhearson increased his beneficial ownership in the company by 61.66 phantom stock units, aligning his interests with shareholders.
• The accrual is part of a structured deferred compensation plan, indicating a stable and predictable compensation mechanism for non-employee directors.

Future Outlook

The 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 equity.

Industry Context

This transaction is a standard practice for director compensation in the banking industry, where non-employee directors often receive a portion of their compensation in equity or equity-linked instruments to align their interests with shareholders.

Comparison to Industry Standards

• The use of phantom stock units as part of a deferred compensation plan for non-employee directors is a common practice across publicly traded companies, including those in the financial sector.
• This aligns with corporate governance best practices aimed at fostering long-term commitment and aligning director incentives with shareholder value.
• Specific comparable companies or projects are not detailed in this filing, but similar plans are prevalent at regional banks and financial institutions of comparable size to FIRST US BANCSHARES.

Corporate Governance

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholder value through equity-based compensation.

Next Steps

• The phantom stock units will convert to common stock at the end of the deferral period.

Key Dates

Recommendation

This Form 4 filing reports a routine accrual of phantom stock units by a director as part of a deferred compensation plan. It does not contain any new material information that would warrant a change in investment recommendation. The transaction is a standard practice for aligning director interests with shareholders and is not indicative of significant operational or strategic shifts for FIRST US BANCSHARES.

Keywords

FIRST US BANCSHARES, FUSB, Phantom Stock Units, Director Compensation, Deferred Compensation, Insider Ownership, SEC Form 4