Form 4: Five Star Bancorp Director Reports Share Transactions

Five Star Bancorp Director Larry Eugene Allbaugh has reported transactions involving common stock, including gifts and holdings through various trusts and entities.

Summary

• Larry Eugene Allbaugh, a Director and 10% Owner of Five Star Bancorp (FSBC), has filed a Form 4 detailing changes in his beneficial ownership of the company's common stock.
• The filing indicates a transaction on May 29, 2026, involving a gift of 150,000 shares from Judy Oates-Holt, the beneficiary of a QSST Subtrust, to her children. Mr. Allbaugh serves as trustee for this trust.
• Mr. Allbaugh also holds shares through several other trusts and entities, including the Larry and Laura Allbaugh Living Trust, Oates Administrative Trust, and various QSST Subtrusts for Kathryn Oates-Fairrington, Marvilyn E. Applegate, and Philip D. Oates.
• Additionally, he holds shares via Buzz Oates LLC, where he is a non-member manager, and Buzz Oates Group of Companies, where he is a shareholder and CEO.
• The filing also notes 974 unvested shares granted under the Five Star Bancorp 2011 Equity Incentive Plan, scheduled to vest on December 31, 2026, contingent on his continued directorship.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily consisting of routine disclosures of share ownership and transfers, with no significant new financial information or strategic shifts.

Positives

• The filing demonstrates continued involvement and potential long-term commitment from a key director and significant shareholder.
• The reporting of unvested shares indicates ongoing equity-based compensation and alignment with company performance.
• The structure of holdings through trusts and entities suggests a well-established ownership framework.

Negatives

• The filing involves a gift of shares, which, while not inherently negative, represents a transfer of ownership rather than an acquisition through purchase.
• Mr. Allbaugh disclaims beneficial ownership for several entities (Buzz Oates LLC and various trusts), which can sometimes create ambiguity regarding ultimate control and economic interest.

Risks

• Potential for future sales or distributions from the trusts and entities holding significant share blocks could impact market supply.
• The disclaimer of beneficial ownership for certain holdings might lead to questions about the extent of Mr. Allbaugh's actual control and economic interest in those shares.

Future Outlook

The filing indicates that 974 unvested shares granted under the Five Star Bancorp 2021 Equity Incentive Plan are scheduled to vest on December 31, 2026, provided Mr. Allbaugh remains a director.

Management Comments

• Mr. Allbaugh disclaims beneficial ownership of securities held by Buzz Oates LLC.
• Mr. Allbaugh disclaims beneficial ownership of securities held by the QSST Subtrusts, stating he is not the beneficiary.
• Mr. Allbaugh disclaims beneficial ownership of securities held by Buzz Oates Group of Companies, except to the extent of his pecuniary interest.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insiders of publicly traded companies, providing transparency on ownership changes. For a regional bank like Five Star Bancorp, director holdings and trust structures are common and reflect established wealth management practices.

Related Party Transactions

• The filing details a gift of shares from Judy Oates-Holt to her children, with Mr. Allbaugh acting as trustee for the relevant trust. This represents a transaction between related parties facilitated by the reporting person in his trustee capacity.

Stakeholder Impact

• Shareholders: The filing provides transparency on insider holdings and transactions, which is a standard component of corporate governance and investor information.
• Beneficiaries of Trusts: The gift of shares impacts the beneficiaries of the Judy Oates-Holt QSST Subtrust, redistributing ownership among her children.
• Company Management: The continued directorship and equity holdings of Mr. Allbaugh signal ongoing commitment and alignment with the company's success.

Next Steps

• Monitoring of the vesting of 974 unvested shares on December 31, 2026.
• Observation of any future transactions or changes in beneficial ownership reported by Mr. Allbaugh or other insiders.

Key Dates

Keywords

Form 4, SEC Filing, Five Star Bancorp, FSBC, Larry Eugene Allbaugh, Beneficial Ownership, Common Stock, Director, Trustee, Equity Incentive Plan, Shareholder