Form 4: GSBC CEO Exercises Options, Sells Shares Under 10b5-1 Plan
Insider Transaction Report
Great Southern Bancorp CEO Joseph W. Turner reported exercising stock options and selling 6,000 shares of common stock, alongside a minor DRIP acquisition, all under a pre-arranged 10b5-1 plan.
Summary
- Joseph W. Turner, President/CEO, Director, and 10% Owner of Great Southern Bancorp, Inc. (GSBC), reported transactions involving the company's common stock.
- On January 26, 2026, Mr. Turner exercised options to acquire 6,000 shares of common stock at an exercise price of $41.3 per share.
- Concurrently, on January 26, 2026, he sold 6,000 shares of common stock at a price of $60.7378 per share.
- These transactions were made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan for the purchase or sale of equity securities.
- Additionally, on January 13, 2026, 18 shares of common stock were acquired through a Dividend Reinvestment Plan (DRIP) at $62.785 per share, which was voluntarily reported and exempt from Section 16 reporting.
- Following these transactions, Mr. Turner's direct beneficial ownership of common stock decreased to 137,382 shares.
- Indirect beneficial ownership includes 2,478 shares held by a spouse, 11,378 shares by a Children's Trust (after the DRIP acquisition), 18,335 shares in a 401(k) Plan, and 369,738 shares by an LTD Family Partnership.
- Mr. Turner holds various outstanding stock options with exercise prices ranging from $41.74 to $61.79, and expiration dates extending to November 19, 2035, with staggered vesting schedules.
Sentiment
Score: 5
Explanation: The sentiment is neutral. While an insider sale by a CEO could be perceived negatively, the transaction was executed under a Rule 10b5-1 plan, indicating it was pre-scheduled and not based on new, non-public information. This mitigates any negative implications. The transaction represents a routine management of equity compensation.
Positives
- The transactions were conducted under a Rule 10b5-1 plan, indicating they were pre-scheduled and not based on immediate, non-public information, which can reduce concerns about insider selling.
- The reporting person continues to hold a substantial number of shares directly and indirectly, demonstrating ongoing alignment with shareholder interests.
- A small acquisition of 18 shares occurred via a Dividend Reinvestment Plan (DRIP) into a Children's Trust, indicating continued investment.
Negatives
- The sale of 6,000 shares by a key executive and 10% owner reduces their direct beneficial ownership in the company.
Future Outlook
NA
Industry Context
This Form 4 filing reports routine insider transactions for a banking executive. Such filings are common in the financial services industry as executives manage their equity compensation and personal investment portfolios. The use of a 10b5-1 plan is a standard practice to facilitate pre-planned sales and exercises, providing transparency and mitigating concerns about trading on non-public information.
Related Party Transactions
- 18 shares of common stock were acquired on 01/13/2026 at $62.785 via a Dividend Reinvestment Plan (DRIP) into a Children's Trust, which is an indirect beneficial ownership for Joseph W. Turner.
Stakeholder Impact
- Shareholders may note the sale of shares by a key executive, but the disclosure of a 10b5-1 plan should alleviate concerns that the sale is based on negative undisclosed information.
- The transaction reflects a routine management of equity compensation by the CEO, which is a common occurrence for executives.
Key Dates
| Date | Description |
|---|---|
| 10/24/2018 | First vesting date for 1,500 shares of options with an exercise price of $41.3 and an expiration date of 10/24/2026. |
| 11/15/2019 | First vesting date for 1,500 shares of options with an exercise price of $52.2 and an expiration date of 11/15/2027. |
| 11/28/2020 | First vesting date for 1,750 shares of options with an exercise price of $55 and an expiration date of 11/28/2028. |
| 11/20/2021 | First vesting date for 1,750 shares of options with an exercise price of $60.15 and an expiration date of 11/20/2029. |
| 10/26/2022 | First vesting date for 1,875 shares of options with an exercise price of $41.74 and an expiration date of 10/26/2030. |
| 11/17/2023 | First vesting date for 1,938 shares of options with an exercise price of $57.98 and an expiration date of 11/17/2031. |
| 11/16/2024 | First vesting date for 1,950 shares of options with an exercise price of $61.55 and an expiration date of 11/16/2032. |
| 11/15/2025 | First vesting date for 1,950 shares of options with an exercise price of $53.22 and an expiration date of 11/15/2033. |
| 01/13/2026 | Date of DRIP acquisition of 18 common stock shares at $62.785. |
| 01/26/2026 | Date of option exercise for 6,000 common stock shares at $41.3 and sale of 6,000 common stock shares at $60.7378. |
| 01/27/2026 | Signature date of the reporting person for the Form 4 filing. |
| 10/24/2026 | Expiration date for options to purchase 6,000 shares of common stock at $41.3. |
| 11/20/2026 | First vesting date for 1,950 shares of options with an exercise price of $61.79 and an expiration date of 11/20/2034. |
| 11/19/2027 | First vesting date for 1,950 shares of options with an exercise price of $57.29 and an expiration date of 11/19/2035. |
| 11/15/2027 | Expiration date for options to purchase 6,000 shares of common stock at $52.2. |
| 11/28/2028 | Expiration date for options to purchase 7,000 shares of common stock at $55. |
| 11/20/2029 | Expiration date for options to purchase 7,000 shares of common stock at $60.15. |
| 10/26/2030 | Expiration date for options to purchase 7,500 shares of common stock at $41.74. |
| 11/17/2031 | Expiration date for options to purchase 7,750 shares of common stock at $57.98. |
| 11/16/2032 | Expiration date for options to purchase 7,800 shares of common stock at $61.55. |
| 11/15/2033 | Expiration date for options to purchase 7,800 shares of common stock at $53.22. |
| 11/20/2034 | Expiration date for options to purchase 7,800 shares of common stock at $61.79. |
| 11/19/2035 | Expiration date for options to purchase 7,800 shares of common stock at $57.29. |
Recommendation
holdThe filing details a pre-planned insider transaction involving an option exercise and subsequent sale of shares by the CEO. While an insider sale can sometimes signal a lack of confidence, the transaction was made pursuant to a Rule 10b5-1 plan, which suggests it was scheduled in advance and not based on new, non-public information. This mitigates the potential negative signal. The overall impact on the company's fundamentals or strategic direction is minimal, thus a 'hold' recommendation is appropriate as this filing alone does not provide sufficient new information to warrant a change in investment thesis.
Keywords
GREAT SOUTHERN BANCORP, GSBC, Joseph W. Turner, Insider Trading, Form 4, Stock Options, Share Sale, CEO, Director, 10b5-1 Plan, Banking, Financial Services
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