Form 4: Fulton Financial Corp Executive Anthony Cossetti Acquires Restricted Stock Units

Anthony Cossetti, Chief Accounting Officer of Fulton Financial Corp, acquired 1,360 restricted stock units on May 1, 2024, which will vest in three years.

Summary

• On May 1, 2024, Anthony Cossetti, the Chief Accounting Officer of Fulton Financial Corporation, was granted 1,360 restricted stock units (RSUs).
• These RSUs were awarded under the Fulton Financial Corporation 2022 Amended and Restated Equity and Cash Incentive Compensation Plan.
• Each RSU represents the right to receive one share of Fulton Financial Corporation common stock.
• The RSUs will cliff vest three years from the grant date, with vested shares delivered to Cossetti at that time.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally viewed neutrally to positively as it aligns management with shareholder interests.

Positives

• The grant of restricted stock units aligns the executive's interests with those of the shareholders, incentivizing performance and long-term value creation.

Future Outlook

The restricted stock units will vest in three years, aligning the executive's compensation with the company's long-term performance.

Industry Context

This is a standard practice for executive compensation, aligning management's interests with shareholder value.

Comparison to Industry Standards

• Granting restricted stock units is a common practice among publicly traded companies, including financial institutions like Fulton Financial Corp, to incentivize executives.
• Comparable companies such as PNC Financial Services and M&T Bank also utilize equity-based compensation plans for their executives.
• The vesting period of three years is also a typical timeframe for such grants.

Stakeholder Impact

• The grant of restricted stock units could positively impact shareholders by incentivizing the executive to improve company performance.

Key Dates