Form 4: Director Sells GNTY Shares in Glacier Merger

Guaranty Bancshares director Jeffrey W. Brown disposed of 27,070 shares of common stock as part of the merger with Glacier Bancorp, Inc.

Summary

• Jeffrey W. Brown, a director of Guaranty Bancshares, Inc. (GNTY), reported the disposal of 27,070 shares of GNTY common stock.
• The transactions occurred on October 1, 2025, coinciding with the effective date of the merger.
• The disposal was executed pursuant to the Plan and Agreement of Merger, dated June 24, 2025, with Glacier Bancorp, Inc. and Glacier Bank.
• 26,720 shares were indirectly owned by JBGB Brown FLP, of which Mr. Brown is the general partner.
• An additional 350 shares were indirectly owned by Mr. Brown's IRA.
• These Guaranty Bancshares shares were exchanged for an equivalent number of Glacier common stock shares, which had a market value of $48.75 per share on the merger's effective date.

Sentiment

Score: 6

Explanation: The filing reports a routine insider transaction (disposal of shares) as a result of a pre-announced merger. It confirms the completion of a strategic event for Guaranty Bancshares, Inc. and the director's receipt of shares in the acquiring company, Glacier Bancorp, Inc.

Positives

• The transaction confirms the completion of a strategic merger event for Guaranty Bancshares, Inc.
• The director received shares in Glacier Bancorp, Inc., indicating continued equity interest in the combined entity.

Negatives

• The director no longer holds direct or indirect beneficial ownership in Guaranty Bancshares, Inc. following the merger.

Risks

• NA

Future Outlook

NA

Industry Context

This filing indicates the completion of a merger in the banking sector, where Guaranty Bancshares, Inc. was acquired by Glacier Bancorp, Inc. This reflects ongoing consolidation trends within the financial services industry, often driven by economies of scale, market expansion, and competitive pressures.

Comparison to Industry Standards

• NA

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• NA

Stakeholder Impact

• Shareholders of Guaranty Bancshares, Inc. have had their shares converted into Glacier Bancorp, Inc. shares as per the merger agreement.
• The director, as a significant shareholder, has completed this share conversion.

Next Steps

• NA

Key Dates

Keywords

Guaranty Bancshares, GNTY, Glacier Bancorp, Merger, Director Transaction, Form 4, Insider Trading, Stock Disposal, Jeffrey W. Brown