Form 4: Five Star Bancorp CEO James Beckwith Receives Restricted Stock Grant

Five Star Bancorp's President and CEO, James Eugene Beckwith, was granted 7,062 shares of restricted common stock as part of the company's 2021 Equity Incentive Plan.

Summary

• James Eugene Beckwith, President and CEO of Five Star Bancorp, acquired 7,062 shares of common stock on July 28, 2025.
• The shares were granted at a price of $0 per share under the Five Star Bancorp 2021 Equity Incentive Plan.
• The newly granted restricted stock will vest annually in equal installments over a five-year period, contingent on Mr. Beckwith's continued employment.
• Following this transaction, Mr. Beckwith's total beneficial ownership stands at 477,014 shares, held indirectly through a family trust.
• This total beneficial ownership also includes previously granted shares from the 2021 Equity Incentive Plan: 45,000 shares (25,716 vested, 19,284 vesting over seven years) and 20,000 shares (4,000 vested, 16,000 vesting over five years).
• Additionally, Mr. Beckwith indirectly holds 3,000 shares for a daughter, 3,000 shares for a son, 3,000 shares for another son, and 1,000 shares for a daughter-in-law, though he disclaims beneficial ownership of these family-held securities.

Sentiment

Score: 7

Explanation: The filing reports a routine executive compensation event (restricted stock grant) which is generally positive for aligning management incentives with shareholder interests, without indicating any negative operational or financial news.

Positives

• The grant of restricted stock aligns the CEO's interests with long-term shareholder value through a multi-year vesting schedule.
• The equity incentive plan demonstrates the company's commitment to retaining key executive talent.

Future Outlook

The restricted stock grant is structured to vest over five years, indicating an expectation of continued employment for the CEO and a long-term focus on executive retention and performance.

Management Comments

• Mr. Beckwith disclaims ownership of securities held by his daughter, sons, and daughter-in-law, stating the report shall not be deemed an admission of beneficial ownership for Section 16 or any other purpose.

Industry Context

This transaction is a standard form of executive compensation in the banking and financial services industry, designed to incentivize long-term performance and align management interests with shareholder returns.

Comparison to Industry Standards

• The use of restricted stock grants with multi-year vesting periods is a common practice among publicly traded companies, including financial institutions, to retain and incentivize senior executives.
• Comparable companies in the regional banking sector often utilize similar equity incentive plans to compensate their CEOs and other key personnel, linking a portion of their compensation to the company's stock performance and long-term value creation.

Stakeholder Impact

• Shareholders: The grant aligns the CEO's long-term financial interests with the company's performance, potentially benefiting shareholders through improved governance and strategic focus.
• Employees: The equity incentive plan demonstrates the company's commitment to executive retention, which can contribute to stable leadership.

Next Steps

• The granted restricted stock will vest annually in equal installments over the next five years, contingent on Mr. Beckwith's continued employment.

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation event (restricted stock grant) and does not contain information that would fundamentally alter the investment thesis for Five Star Bancorp. It is a standard practice to align management incentives with shareholder interests, and as such, it does not provide a basis for a 'buy' or 'sell' recommendation on its own. Investors should continue to hold based on broader financial performance and market conditions.

Keywords

Five Star Bancorp, FSBC, James Eugene Beckwith, Restricted Stock, Equity Incentive Plan, CEO Compensation, Insider Transaction, Form 4, Stock Grant, Executive Compensation