Form 4: FUSB Director McPhearson Boosts Phantom Stock Holdings

FIRST US BANCSHARES Director John Lee McPhearson acquired 71.28 phantom stock units through a deferred compensation plan, increasing his beneficial ownership to 12,377.19 units.

Summary

• John Lee McPhearson, a Director of FIRST US BANCSHARES, INC. (FUSB), acquired 71.28 phantom stock units.
• The transaction occurred on September 30, 2025, as part of the First US Bancshares, Inc. Non-Employee Directors' Deferred Compensation Plan.
• These units were accrued from quarterly dividends and convert to common stock on a 1-for-1 basis.
• The phantom stock units were valued at $12.02 per unit at the time of acquisition.
• Following this transaction, Mr. McPhearson beneficially owns a total of 12,377.19 derivative securities (phantom stock units).
• The units are to be settled in common stock at the end of the deferral period.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as a director's beneficial ownership increased, indicating continued alignment with the company's performance, even though it's a routine accrual rather than an open market purchase.

Positives

• The increase in beneficial ownership by a director, even through a deferred compensation plan, indicates continued alignment of interests between management and shareholders.
• The accrual of phantom stock units from dividends suggests a mechanism for directors to reinvest earnings back into the company's equity.

Future Outlook

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

Industry Context

This is a routine insider transaction common in the financial services industry, where non-employee directors often receive compensation in the form of equity or equity-linked instruments, such as phantom stock, as part of deferred compensation plans. This practice aligns director interests with long-term shareholder value.

Corporate Governance

Stakeholder Impact

• Shareholders: The increase in director beneficial ownership, even through a compensation plan, generally signals continued confidence and alignment of interests, which can be viewed positively.
• Directors: The deferred compensation plan provides a structured way for non-employee directors to receive equity-based compensation and defer income.

Next Steps

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

Key Dates

Keywords

FUSB, Insider Transaction, Form 4, Director Ownership, Phantom Stock Units, Deferred Compensation Plan, Equity Compensation