Form 4: FUSB Director Jack Meigs Boosts Phantom Stock Holdings

FIRST US BANCSHARES Director Jack W. Meigs acquired 35.22 phantom stock units through a deferred compensation plan, increasing his direct beneficial ownership to 6,115.26 units.

Summary

• Jack W. Meigs, a Director of FIRST US BANCSHARES, INC. (FUSB), acquired 35.22 phantom stock units.
• These units were accrued on September 30, 2025, through quarterly dividends under the company's Non-Employee Directors Deferred Compensation Plan.
• Each phantom stock unit is convertible to one share of common stock on a 1-for-1 basis.
• The acquisition price for these units was $12.02 per unit.
• Following this transaction, Mr. Meigs directly beneficially owns a total of 6,115.26 phantom stock units.
• The phantom stock units are to be settled in common stock at the end of the deferral period.

Sentiment

Score: 6

Explanation: The acquisition of phantom stock units by a director, even through a compensation plan, generally indicates continued alignment of interests with shareholders and confidence in the company's long-term prospects.

Positives

• Director Jack W. Meigs increased his beneficial ownership in FIRST US BANCSHARES, INC. by acquiring 35.22 phantom stock units.
• The acquisition, stemming from quarterly dividends, demonstrates continued participation in the company's deferred compensation plan, aligning director interests with shareholders.
• Total direct beneficial ownership for Mr. Meigs now stands at 6,115.26 phantom stock units.

Future Outlook

The acquired phantom stock units are scheduled to be settled in common stock at the conclusion of the deferral period, converting on a one-for-one basis.

Industry Context

Director deferred compensation plans, often involving phantom stock or restricted stock units, are a common mechanism in the banking and financial services industry to align the interests of non-employee directors with long-term shareholder value. This transaction reflects a standard practice for director remuneration and equity participation.

Corporate Governance

Stakeholder Impact

• Shareholders: The increase in director's beneficial ownership through a compensation plan can be viewed positively, as it further aligns the director's financial interests with those of the shareholders.

Next Steps

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

Key Dates

Keywords

FUSB, FIRST US BANCSHARES, Jack W. Meigs, Form 4, insider transaction, phantom stock, director compensation, beneficial ownership