Form 4: Director Johnson Disposes GNTY Shares in Glacier Merger

Guaranty Bancshares Director Carl Johnson Jr. disposed of 57,200 shares of common stock as part of the merger agreement with Glacier Bancorp, receiving Glacier shares in exchange.

Summary

• Carl Johnson Jr., a Director of Guaranty Bancshares, Inc. (GNTY), disposed of 57,200 shares of GNTY Common Stock.
• The transaction occurred on October 1, 2025.
• This disposal was executed pursuant to the Plan and Agreement of Merger, dated June 24, 2025, by and among Guaranty Bancshares, Inc., Guaranty Bank & Trust, N.A., Glacier Bancorp, Inc. ("Glacier"), and Glacier Bank.
• In exchange for the GNTY shares, Mr. Johnson received 57,200 shares of Glacier Bancorp, Inc. common stock.
• The Glacier common stock had a market value of $48.75 per share on the effective date of the merger.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 5

Explanation: The filing is a standard Form 4 disclosing an insider transaction resulting from a merger, which is a neutral event in itself. It provides factual details without indicating positive or negative performance.

Positives

• Reporting person received 57,200 shares of Glacier Bancorp, Inc. common stock, valued at $48.75 per share, as consideration for the merger.

Negatives

• NA

Risks

• NA

Future Outlook

NA

Management Comments

• NA

Industry Context

The transaction reflects ongoing consolidation within the U.S. banking sector, where smaller regional banks are often acquired by larger institutions to achieve economies of scale, expand market reach, or enhance competitive positioning. This specific merger between Guaranty Bancshares and Glacier Bancorp aligns with this broader industry trend.

Comparison to Industry Standards

• The transaction involves the exchange of Guaranty Bancshares common stock for Glacier Bancorp common stock at a market value of $48.75 per Glacier share. This exchange ratio and implied valuation would typically be assessed against industry benchmarks for bank mergers and acquisitions, such as price-to-tangible book value or price-to-earnings multiples of comparable regional bank deals. However, this Form 4 specifically reports an insider's mandatory transaction post-merger, rather than providing the full financial terms for such a comparative analysis.

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• NA

Stakeholder Impact

• Shareholders of Guaranty Bancshares: Received Glacier Bancorp shares as consideration for their GNTY shares due to the merger.

Next Steps

• NA

Key Dates

Keywords

Guaranty Bancshares, GNTY, Glacier Bancorp, Glacier Bank, Merger, Insider Transaction, Form 4, Director, Stock Disposal, Equity Exchange, Financial Services, Banking