Form 4: Five Star Bancorp Director Larry Allbaugh Reports Gift of Shares to Donor Advised Fund

Five Star Bancorp director Larry Allbaugh reported a gift of shares to a donor advised fund, while also disclosing holdings through various trusts and entities.

Summary

• Larry Allbaugh, a director at Five Star Bancorp, reported a transaction involving a gift of securities to a donor advised fund.
• The transaction involved 2,000 shares of common stock.
• Mr. Allbaugh also disclosed holdings of 499,512 shares held by self as trustee, 1,010,778 shares held by OAT Trustee, 410,695 shares held by J Oates-Holt QSST Trustee, 410,695 shares held by K Oates-Fairrington QSST Trustee, 410,695 shares held by M Applegate QSST Trustee, 410,695 shares held by P Oates QSST Trustee, 10,000 shares held by Buzz Oates LLC, and 10,000 shares held by Buzz Oates Group of Companies.
• These shares are held through various trusts and entities where Mr. Allbaugh serves as a trustee, non-member manager, or shareholder.
• Mr. Allbaugh disclaims beneficial ownership of some of these shares, except for his pecuniary interest in Buzz Oates Group of Companies.
• The report includes 1,638 unvested shares granted under the 2021 Equity Incentive Plan, which are scheduled to vest on December 31, 2024, if Mr. Allbaugh remains a director.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of a share transaction, which is neither positive nor negative. The sentiment is neutral to slightly positive due to the disclosure of the vesting of shares.

Future Outlook

The 1,638 unvested shares will vest on December 31, 2024, if Mr. Allbaugh remains a director.

Industry Context

This filing is a routine disclosure of share transactions by a company director, which is common in the financial industry.

Comparison to Industry Standards

• The disclosure of share transactions by directors is a standard practice for publicly traded companies, ensuring transparency and compliance with regulations.
• Similar filings are regularly made by directors of other financial institutions, such as Bank of America, JP Morgan Chase, and Wells Fargo, when they engage in share transactions.

Stakeholder Impact

• The share transaction has a minimal impact on shareholders as it is a gift of shares by a director.
• The disclosure provides transparency to stakeholders regarding the director's shareholdings.

Key Dates

Keywords

Five Star Bancorp, Larry Allbaugh, share transaction, beneficial ownership, trustee, equity incentive plan, director, donor advised fund