Form 4: Great Southern Bancorp CEO Acquires Stock Options
SEC Form 4 Filing
Great Southern Bancorp's CEO, Joseph W. Turner, acquired stock options on November 20, 2024, as part of his compensation.
Summary
- Joseph W. Turner, the President and CEO of Great Southern Bancorp, Inc., has reported changes in his beneficial ownership of the company's securities.
- On November 20, 2024, Mr. Turner acquired options to purchase 1,950 shares of common stock at a price of $61.79, with the options vesting over the next several years.
- These options are in addition to his existing holdings of common stock, which include 137,382 shares held directly and 401,371 shares held indirectly through various means such as a spouse, children's trust, 401(k) plan, and a family partnership.
- The document also details previously granted options with various vesting schedules and exercise prices.
Sentiment
Score: 7
Explanation: The document is a routine disclosure of insider transactions, which is generally neutral. The acquisition of stock options by the CEO is a positive sign of alignment with shareholders, but it's not a major event.
Positives
- The acquisition of stock options by the CEO aligns his interests with those of the shareholders.
- The vesting schedule of the options encourages long-term performance and commitment from the CEO.
- The CEO's significant holdings of common stock demonstrate a strong belief in the company's future.
Risks
- The document does not explicitly mention any risks, but the value of the options is dependent on the future performance of the company's stock price.
- The vesting schedule of the options could create a potential incentive for short-term gains at the expense of long-term value.
Industry Context
This filing is a routine disclosure of insider transactions, which is common in the financial industry. It provides transparency into the compensation and ownership structure of the company's leadership.
Comparison to Industry Standards
- Stock option grants are a standard form of executive compensation in the banking industry.
- The vesting schedules and exercise prices are typical for such grants, designed to align executive interests with long-term shareholder value.
- Comparing to other regional banks, the level of stock ownership by the CEO is within the expected range for a company of this size.
Stakeholder Impact
- The stock option grant to the CEO is likely to be viewed positively by shareholders as it aligns management's interests with the company's performance.
- The disclosure provides transparency to stakeholders regarding executive compensation.
Key Dates
| Date | Description |
|---|---|
| 10/24/2018 | First vesting date for 1,500 shares of options with an exercise price of $41.3. |
| 11/15/2019 | First vesting date for 1,500 shares of options with an exercise price of $52.2. |
| 11/28/2020 | First vesting date for 1,750 shares of options with an exercise price of $55. |
| 11/20/2021 | First vesting date for 1,750 shares of options with an exercise price of $60.15. |
| 10/26/2022 | First vesting date for 1,875 shares of options with an exercise price of $41.74. |
| 11/17/2023 | First vesting date for 1,938 shares of options with an exercise price of $57.98. |
| 11/20/2024 | Date of the most recent transaction where the CEO acquired options to purchase 1,950 shares at $61.79 per share. |
| 11/16/2024 | First vesting date for 1,950 shares of options with an exercise price of $61.55. |
| 11/15/2025 | First vesting date for 1,950 shares of options with an exercise price of $53.22. |
| 10/24/2026 | Expiration date for options with an exercise price of $41.3. |
| 11/20/2026 | First vesting date for the 1,950 shares of options acquired on 11/20/2024. |
| 11/15/2027 | Expiration date for options with an exercise price of $52.2. |
| 11/20/2027 | Second vesting date for the 1,950 shares of options acquired on 11/20/2024. |
| 11/28/2028 | Expiration date for options with an exercise price of $55. |
| 11/20/2028 | Third vesting date for the 1,950 shares of options acquired on 11/20/2024. |
| 11/20/2029 | Fourth vesting date for the 1,950 shares of options acquired on 11/20/2024 and expiration date for options with an exercise price of $60.15. |
| 10/26/2030 | Expiration date for options with an exercise price of $41.74. |
| 11/17/2031 | Expiration date for options with an exercise price of $57.98. |
| 11/16/2032 | Expiration date for options with an exercise price of $61.55. |
| 11/15/2033 | Expiration date for options with an exercise price of $53.22. |
| 11/20/2034 | Expiration date for the 1,950 shares of options acquired on 11/20/2024. |
Keywords
stock options, beneficial ownership, insider trading, executive compensation, common stock, Great Southern Bancorp, GSBC, Joseph W. Turner
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