Form 4: Five Star Bancorp Director Acquires Shares Through Equity Incentive Plan

Robert Truxtun Perry-Smith, a director at Five Star Bancorp, acquired 1,165 shares of common stock through the company's 2021 Equity Incentive Plan.

Summary

• Robert Truxtun Perry-Smith, a director of Five Star Bancorp, acquired 1,165 shares of common stock on January 29, 2025.
• The shares were granted under the Five Star Bancorp 2021 Equity Incentive Plan.
• These shares are scheduled to vest on December 31, 2025, contingent on Mr. Perry-Smith remaining a director at that time.
• The shares are held indirectly through the Robert T. Perry-Smith Exemption Trust, where Mr. Perry-Smith serves as trustee.
• Following this transaction, Mr. Perry-Smith beneficially owns a total of 226,493 shares indirectly.

Sentiment

Score: 7

Explanation: The document reflects a standard equity grant to a director, which is generally viewed positively as it aligns interests. There are no negative implications, but it's not a major positive catalyst either.

Positives

• The equity grant aligns the director's interests with the company's long-term performance.
• The vesting schedule encourages continued service as a director.

Risks

• The vesting of the shares is contingent on Mr. Perry-Smith remaining a director, which introduces a risk of forfeiture if he leaves before the vesting date.

Future Outlook

The shares will vest on December 31, 2025, if Mr. Perry-Smith remains a director.

Industry Context

This is a standard practice for companies to use equity incentive plans to align the interests of directors with the long-term success of the company. This type of transaction is common in the financial sector.

Comparison to Industry Standards

• Equity grants to directors are a common practice across the financial industry, with vesting schedules typically tied to continued service.
• Many comparable companies use similar equity incentive plans to retain and motivate their board members.
• The vesting period of approximately 11 months is within the typical range for such grants.

Stakeholder Impact

• The share acquisition has a minor positive impact on shareholders as it aligns director interests with company performance.

Key Dates

Keywords

equity incentive plan, director, share acquisition, beneficial ownership, vesting, Five Star Bancorp, FSBC