Form 4: Director's GNTY Shares Transferred in Glacier Merger

Sondra Cunningham, a director at Guaranty Bancshares, Inc., disposed of common stock and had stock options assumed by Glacier Bancorp, Inc. as part of a merger agreement.

Summary

• Sondra Cunningham, a director of Guaranty Bancshares, Inc. (GNTY), reported the disposal of 291 shares of GNTY common stock on October 1, 2025.
• The disposal was pursuant to a Merger Agreement dated June 24, 2025, with Glacier Bancorp, Inc. (Glacier) and Glacier Bank.
• In exchange for the 291 GNTY shares, Ms. Cunningham received 291 shares of Glacier common stock, valued at $48.75 per share on the merger's effective date.
• Two stock options held by Ms. Cunningham became fully vested in connection with the merger and were assumed by Glacier.
• The first option, for 2,091 shares, with an adjusted exercise price of $27.47, was replaced with an option to purchase 2,091 shares of Glacier common stock at the same price.
• The second option, for 3,137 shares, with an adjusted exercise price of $33.95, was replaced with an option to purchase 3,137 shares of Glacier common stock at the same price.
• The exercise prices of the stock options were adjusted to reflect a special cash dividend of $2.30 per share paid by Guaranty Bancshares, Inc. on September 23, 2025.

Sentiment

Score: 7

Explanation: The filing reports the successful execution of a merger agreement, leading to the vesting of options and exchange of shares for the director. This is a positive outcome for the insider and indicates the merger proceeded as planned, which is generally viewed favorably.

Positives

• The merger agreement led to the full vesting of the reporting person's stock options, which were subsequently assumed by Glacier Bancorp, Inc.
• The reporting person received shares of Glacier common stock in exchange for Guaranty Bancshares shares, indicating a successful completion of the merger transaction for shareholders.

Future Outlook

The filing indicates the successful completion of the merger between Guaranty Bancshares, Inc. and Glacier Bancorp, Inc., with the reporting person's securities transactions reflecting the terms of the merger agreement.

Industry Context

This transaction is a direct result of a merger within the banking sector, reflecting ongoing consolidation trends where smaller regional banks are acquired by larger entities to achieve scale and market presence.

Stakeholder Impact

• Shareholders of Guaranty Bancshares, Inc. were impacted by the merger, receiving Glacier Bancorp, Inc. shares in exchange for their GNTY holdings.
• Employees holding stock options, such as the reporting director, saw their options fully vest and assumed by the acquiring entity, Glacier Bancorp, Inc.

Key Dates

Keywords

Guaranty Bancshares, GNTY, Glacier Bancorp, Merger, Stock Options, Insider Transaction, Form 4, Beneficial Ownership, Director