Form 4: Fulton Financial Director Converts Equity Awards and Receives New RSU Grant

Fulton Financial Corporation Director James R. Moxley III reported the conversion of previously granted restricted stock units into common stock and the acquisition of new equity awards, alongside adjustments to his reported beneficial ownership.

Summary

• Director James R. Moxley III converted 4,937.5471 Restricted Stock Units (RSUs) into common stock on June 1, 2025, following the lapse of forfeiture restrictions. These RSUs were originally granted on June 1, 2024, and included accumulated dividend equivalents.
• Concurrently, Mr. Moxley acquired 4,928 new Restricted Stock Units (RSUs) on June 1, 2025, which are set to vest on the first anniversary of the grant date (June 1, 2026) or later, based on his election upon retirement or separation from the Board.
• His direct beneficial ownership of Fulton Financial common stock increased to 110,471.8764 shares after the RSU conversion.
• The reported beneficial ownership no longer includes 20,907.279 shares owned by his children, which were previously reported.
• Additional shares were acquired through dividend reinvestment: 573.6587 shares on January 17, 2025, and 726.9269 shares on April 16, 2025, for his direct holdings, and 12.1817 shares on January 16, 2025, and 15.6342 shares on April 17, 2025, for his spouse's indirect holdings.
• Indirect beneficial ownership includes 28,000 shares in a 401(k) and 1,409.4508 shares held by his spouse.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive as it reflects a director's continued equity ownership and participation in the company's long-term incentive plans through RSU vesting and new grants. The reduction in reported beneficial interest is a reporting change, not a sale by the director, and dividend reinvestments are positive signs. Overall, it's a routine, slightly positive update regarding insider holdings.

Positives

• Conversion of Restricted Stock Units into common stock indicates vesting and retention of equity by a director, aligning interests with shareholders.
• Acquisition of new Restricted Stock Units demonstrates continued commitment and alignment of director's interests with the company's long-term performance.
• Dividend reinvestment for both direct and spouse's holdings indicates a long-term holding strategy and confidence in the company's financial health.

Negatives

• The reporting person no longer has a reportable beneficial interest in 20,907.279 shares owned by his children, which were previously included in his ownership reports. This represents a reduction in the director's *reported* beneficial interest, though not a direct sale by the director.

Future Outlook

The newly acquired 4,928 Restricted Stock Units are scheduled to convert to common stock on June 1, 2026, or potentially later in up to three equal annual installments beginning in January of the year following the reporting person's retirement or separation from the Fulton Financial Corporation Board of Directors, indicating future equity vesting.

Industry Context

This Form 4 filing reflects routine equity compensation and ownership adjustments for a director at a financial institution. Such transactions are common in the banking sector as part of executive and director compensation plans, aiming to align leadership interests with long-term shareholder value through equity ownership.

Stakeholder Impact

• Shareholders: The director's continued equity ownership and participation in long-term incentive plans align his interests with shareholder value creation.

Next Steps

• The newly acquired 4,928 Restricted Stock Units are expected to vest and convert to common stock on June 1, 2026, or potentially later based on the director's election upon retirement or separation.

Key Dates

Recommendation

Keywords

Fulton Financial Corp, FULT, SEC Form 4, Insider Transaction, Beneficial Ownership, Restricted Stock Units, RSU Conversion, Equity Compensation, Director Stock Ownership, Dividend Reinvestment