Form 4: Fulton Financial Director Sells Shares Under 10b5-1 Plan
Insider Transaction Report
Fulton Financial Corporation Director E. Philip Wenger reported the sale of 5,000 common shares at $19.55 per share, executed under a pre-arranged 10b5-1 trading plan.
Summary
- Director E. Philip Wenger of Fulton Financial Corporation sold 5,000 shares of $2.50 par value Common Stock.
- The transaction occurred on January 12, 2026, at a price of $19.55 per share.
- The sale was executed under a Rule 10b5-1 trading plan adopted on June 13, 2025.
- Following the transaction, Wenger directly owns 85,477 shares.
- Indirect holdings include 578,802.0447 shares by IRA and 452.0633 shares by children.
- Indirect holdings also include 120,996.5261 shares held jointly with spouse.
- A Limited Power of Attorney was granted by E. Philip Wenger on December 15, 2025, authorizing Natasha R. Luddington, Mark A. Crowe, and Steven R. Horst to handle SEC filings (Forms 3, 4, 5) and EDGAR account administration.
Sentiment
Score: 5
Explanation: A Form 4 filing reporting a planned insider sale is generally neutral. It reflects a pre-scheduled transaction rather than a direct signal of management's current view on the company's immediate prospects.
Industry Context
Insider transactions, particularly sales under Rule 10b5-1 plans, are common in the financial industry as executives manage personal portfolios and liquidity while adhering to insider trading regulations. This transaction is a routine disclosure for a director of a financial institution.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Authorization for SEC Filings | E. Philip Wenger granted a Limited Power of Attorney to Natasha R. Luddington, Mark A. Crowe, and Steven R. Horst to prepare and submit Forms 3, 4, and 5 and manage his EDGAR account for Section 16 reporting. | 2025-12-15 | This streamlines the process for the director's compliance with SEC reporting requirements, ensuring timely and accurate filings. |
Stakeholder Impact
- Shareholders: The sale of 5,000 shares by a director is a routine disclosure and unlikely to have a significant impact on the company's overall valuation or shareholder confidence, especially given it was pre-planned.
Key Dates
| Date | Description |
|---|---|
| 2025-06-13 | Date Rule 10b5-1 trading plan was adopted by E. Philip Wenger. |
| 2025-12-15 | Date E. Philip Wenger executed the Limited Power of Attorney. |
| 2026-01-12 | Date of the reported transaction (sale of common stock). |
| 2026-01-14 | Date the Form 4 was signed by attorney-in-fact. |
| 2027-06-17 | Expiration date of Notary Public's commission for the Power of Attorney. |
Recommendation
holdThe Form 4 filing details a pre-scheduled insider sale under a 10b5-1 plan, which typically does not reflect new material information about the company's performance or outlook. Such transactions are often for personal financial planning and do not warrant a change in investment recommendation based solely on this disclosure. Maintain current position.
Keywords
Fulton Financial, FULT, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Director Transaction, E. Philip Wenger, Common Stock
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