Form 4: Fulton Financial Director Sells Shares Under Pre-Planned Trading Arrangement

A director at Fulton Financial Corporation, E. Philip Wenger, sold 5,000 shares of common stock for approximately $92,000 through a pre-arranged trading plan.

Summary

• E. Philip Wenger, a Director of Fulton Financial Corporation (FULT), sold a total of 5,000 shares of the company's $2.50 par value Common Stock on July 25, 2025.
• The sales were executed under a Rule 10b5-1 pre-planned contract, instruction, or written plan.
• 1,149 shares were sold from direct ownership at a price of $18.405 per share.
• An additional 3,851 shares were sold indirectly from a Spouse IRA at a weighted average price of $18.415 per share, with prices ranging from $18.4000 to $18.4217.
• Following these transactions, Mr. Wenger's beneficial ownership includes 95,477 shares held indirectly by an IRA, 0.00 shares by Spouse IRA, 599,102.0447 shares held directly (including 141,296.5261 shares held jointly with spouse), and 447.9853 shares held indirectly by children (including 3.78020 shares acquired via dividend reinvestment on July 15, 2025).

Sentiment

Score: 4

Explanation: The sentiment is neutral to slightly negative. While the sale was pre-planned under a 10b5-1 arrangement, which mitigates the negative signal of an insider sale, it still represents a reduction in a director's direct equity exposure to the company.

Negatives

• A director's sale of shares, even if pre-planned, reduces their direct equity stake and can be perceived as a slight reduction in insider alignment with shareholder interests.

Risks

• The Limited Power of Attorney document highlights that the designated agent has broad powers to handle property, including the ability to sell or dispose of real or personal property without advance notice or approval, though this specific POA is limited to SEC filings.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The Power of Attorney states that the attorneys-in-fact are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the Securities Exchange Act of 1934.

Industry Context

This filing is a routine disclosure of an insider transaction and does not provide broader industry context or trends. It reflects an individual director's equity management rather than a company-wide strategic move.

Corporate Governance

Related Party Transactions

• The reported transactions involve a director of the company selling shares, which is a standard related-party transaction disclosure for insider trading.

Stakeholder Impact

• Shareholders: The sale of shares by a director, even if pre-planned, slightly increases the float and may be interpreted as a minor signal regarding insider confidence, though the impact is limited due to the 10b5-1 plan.

Next Steps

• The Limited Power of Attorney will remain in full force and effect until E. Philip Wenger is no longer required to file Forms 3, 4, and 5 with respect to his holdings and transactions in Fulton Financial Corporation securities, unless earlier revoked.

Key Dates

Recommendation

This filing is a routine disclosure of an insider share sale under a pre-planned Rule 10b5-1 arrangement. It does not provide sufficient information regarding the company's financial performance, strategic direction, or market position to warrant a 'buy' or 'sell' recommendation. Investors should consider this information in the broader context of the company's financial reports and market conditions. The pre-planned nature of the sale reduces its significance as an immediate sentiment indicator.

Keywords

Fulton Financial Corporation, FULT, Insider Trading, Form 4, Director Share Sale, Rule 10b5-1 Plan, Beneficial Ownership, SEC Filing, Financial Services