Form 4: Fulton Financial Director Antoinette Pergolin Boosts Equity Stake with New RSU Grant

Fulton Financial Corporation Director Antoinette M. Pergolin has reported the acquisition of 4,928 Restricted Stock Units (RSUs) and an updated beneficial ownership of common stock, aligning her interests further with shareholders.

Summary

• Antoinette M. Pergolin, a Director of Fulton Financial Corp (FULT), reported changes in her beneficial ownership of company securities.
• On June 1, 2025, Ms. Pergolin acquired 4,928 Restricted Stock Units (RSUs) under the company's equity plan.
• Each RSU represents a contingent right to receive one share of Fulton Financial Corporation common stock.
• The RSUs, along with accumulated dividend equivalents, are scheduled to convert to common stock on the first anniversary of the grant date (June 1, 2026), or can be deferred at the reporting person's election upon retirement or separation from the Board.
• Forfeiture restrictions on these RSUs also lapse on the first anniversary of the grant date or earlier, as per the Fulton Financial Corporation Amended and Restated 2023 Director Equity Plan.
• Following this transaction, Ms. Pergolin beneficially owns 3,247.612 shares of $2.50 par value Common Stock.
• This common stock holding includes 15.017942 shares acquired on January 16, 2025, and 19.030202 shares acquired on April 16, 2025, both through dividend reinvestment.
• Her total beneficial ownership of derivative securities, including the newly acquired RSUs and previously deferred units, stands at 29,576.6661 units.
• Dividend equivalents continue to accumulate on deferred RSUs during the deferral period.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it indicates a director's increased equity stake and alignment with shareholder interests through a routine compensation grant and dividend reinvestment.

Positives

• The acquisition of Restricted Stock Units by a director indicates a continued alignment of management's interests with those of shareholders, as their compensation is tied to the company's stock performance.
• Ongoing dividend reinvestment by the director demonstrates confidence in the company's long-term value and commitment to increasing their equity stake.

Risks

• The value of the acquired Restricted Stock Units and existing common stock holdings is subject to market fluctuations and the overall performance of Fulton Financial Corporation's stock.
• The conversion of RSUs to common stock is contingent on the lapse of forfeiture restrictions, which could be impacted by the terms of the equity plan or the director's continued service.

Future Outlook

The acquired Restricted Stock Units are expected to convert to common stock on June 1, 2026, or can be deferred by the director until after retirement or separation from the Board, providing a future increase in direct common stock holdings.

Industry Context

This filing is a routine disclosure of an insider transaction for a financial institution, reflecting a director's compensation and equity accumulation. It does not provide broader industry trends or competitive insights.

Corporate Governance

Stakeholder Impact

• Shareholders: The acquisition of additional equity by a director can be viewed positively as it aligns the director's financial interests with those of the shareholders, potentially fostering more shareholder-centric decision-making.

Next Steps

• The Restricted Stock Units are scheduled to convert to common stock on June 1, 2026, which is the first anniversary of the grant date, assuming forfeiture restrictions lapse.

Key Dates

Keywords

Fulton Financial Corporation, FULT, SEC Form 4, Restricted Stock Units, RSU, Beneficial Ownership, Director Compensation, Insider Trading, Equity Plan, Dividend Reinvestment