Form 4: GSBC VP Bugh Receives New Stock Option Grant

Sentiment:

Insider Stock Option Grant 20 November 2025 4:25 PM

📋All filings for Great Southern Bancorp, INC

Great Southern Bancorp's Vice President of Subsidiary, John M. Bugh, was granted 4,800 new stock options at an exercise price of $57.29, vesting over four years.

Summary

John M. Bugh, Vice President of Subsidiary at Great Southern Bancorp, Inc. (GSBC), reported changes in his beneficial ownership.
He was granted 4,800 new stock options on November 19, 2025, with an exercise price of $57.29 per share.
These new options vest in four equal annual installments of 1,200 shares each, starting November 19, 2027, and expiring on November 19, 2035.
The transaction was made pursuant to a Rule 10b5-1(c) plan.
Following this transaction, Mr. Bugh directly owns 1,790 shares of common stock.
His total beneficial ownership of derivative securities (options) now stands at 41,050 shares, including previously granted options with various exercise prices and vesting schedules.

Sentiment

Score: 6

Explanation: The filing reports a routine equity compensation grant to an executive, which is generally a neutral to slightly positive event as it aligns executive incentives with shareholder value. It does not contain information that would significantly alter the company's financial outlook or operational performance.

Positives

Grant of new stock options to a Vice President of Subsidiary indicates continued alignment of management incentives with shareholder interests.
The options have a vesting schedule, encouraging long-term commitment and performance from the executive.
The transaction was made under a Rule 10b5-1(c) plan, suggesting a pre-planned and systematic approach to equity compensation.

Negatives

No immediate cash inflow for the executive from this grant, as it is an option grant, not a stock award or sale.
The value of the options is dependent on the future stock price exceeding the exercise price of $57.29.

Risks

The value of the stock options is subject to market fluctuations and the company's future performance. If the stock price does not exceed the exercise price, the options may expire worthless.
Potential for dilution risk for existing shareholders if a significant number of options are exercised in the future, although this is a standard aspect of equity compensation.

Future Outlook

Industry Context

Great Southern Bancorp operates in the financial services and banking sector. Equity compensation, such as stock option grants, is a common practice in this industry to attract, retain, and incentivize key personnel, aligning their interests with long-term shareholder value creation.

Comparison to Industry Standards

The grant of stock options with multi-year vesting schedules is a standard practice for executive compensation in the banking and financial services industry, similar to compensation structures seen at regional banks like Commerce Bancshares (CBSH) or UMB Financial Corporation (UMBF).
The use of a Rule 10b5-1 plan for equity transactions is also a common corporate governance practice, demonstrating a commitment to transparency and mitigating concerns about insider trading.

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment
Equity Compensation Policy	The grant of stock options to a Vice President of Subsidiary is consistent with the company's ongoing equity compensation practices designed to incentivize key personnel.	11/19/2025	Reinforces alignment of executive interests with long-term shareholder value; standard practice for corporate governance.
Insider Trading Compliance	The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan to comply with insider trading regulations.	11/19/2025	Enhances transparency and reduces potential for accusations of opportunistic insider trading.

Stakeholder Impact

Shareholders: Potential for minor dilution upon exercise of options, but also potential for increased long-term value creation due to incentivized management.
Employees: Reflects standard executive compensation practices, which can influence overall employee morale and retention strategies.

Next Steps

The newly granted options will begin to vest annually from November 19, 2027, through November 19, 2030.
The options will expire on November 19, 2035, if not exercised.

Key Dates

Date	Description
10/24/2018	First vesting date for 625 shares of an option grant with an exercise price of $41.3.
11/15/2019	First vesting date for 700 shares of an option grant with an exercise price of $52.2.
11/28/2020	First vesting date for 875 shares of an option grant with an exercise price of $55.
11/20/2021	First vesting date for 950 shares of an option grant with an exercise price of $60.15.
10/26/2022	First vesting date for 1,125 shares of an option grant with an exercise price of $41.74.
11/17/2023	First vesting date for 1,188 shares of an option grant with an exercise price of $57.98.
11/16/2024	First vesting date for 1,200 shares of an option grant with an exercise price of $61.55.
11/19/2025	Transaction date for the new grant of 4,800 stock options at $57.29 exercise price; also the date of the earliest transaction reported for the new options.
11/20/2025	Date the Form 4 was signed and filed.
11/15/2025	First vesting date for 1,200 shares of an option grant with an exercise price of $53.22.
11/20/2026	First vesting date for 1,200 shares of an option grant with an exercise price of $61.79.
11/19/2027	First vesting date for 1,200 shares of the newly granted options.
11/19/2028	Second vesting date for 1,200 shares of the newly granted options.
11/19/2029	Third vesting date for 1,200 shares of the newly granted options.
11/19/2030	Fourth vesting date for 1,200 shares of the newly granted options.
11/19/2035	Expiration date for the newly granted 4,800 stock options.

Recommendation

hold

This Form 4 filing details a routine stock option grant to a company executive. While it aligns executive incentives with shareholder interests, it does not provide new information regarding the company's financial performance, strategic direction, or market position that would warrant a change in investment recommendation. Investors should continue to hold based on broader company fundamentals and market conditions.

Keywords

Great Southern Bancorp, GSBC, stock options, Form 4, insider transaction, equity compensation, executive compensation, Rule 10b5-1, financial services, banking

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