Form 4: Executive's Holdings Shift Post-Guaranty Bancshares Merger

Harold E. Lower II, EVP of Guaranty Bank & Trust, exchanged Guaranty Bancshares shares and options for Glacier Bancorp stock and replacement options following the merger.

Summary

• Harold E. Lower II, Executive Vice President of Guaranty Bank & Trust, reported changes in his beneficial ownership of securities following the merger of Guaranty Bancshares, Inc. with Glacier Bancorp, Inc.
• On October 1, 2025, Lower disposed of 11,809 shares of Guaranty Bancshares common stock held directly, in exchange for 11,809 shares of Glacier common stock.
• Additionally, 30,779 shares of Guaranty Bancshares common stock held indirectly through his IRA were disposed of, in exchange for 30,779 shares of Glacier common stock.
• The Glacier common stock had a market value of $48.75 per share on the effective date of the merger.
• Lower's Guaranty Bancshares stock options were also disposed of and replaced with Glacier stock options, adjusted for a special cash dividend of $2.30 per share paid by Guaranty Bancshares on September 23, 2025.
• Three tranches of stock options were converted: 5,229 options at $27.47, 1,380 options at $23.47, and 3,137 options at $27.60, all now exercisable for Glacier common stock.

Sentiment

Score: 6

Explanation: The filing is a factual disclosure of a transaction mandated by a merger. The executive's options became fully vested, which is a positive outcome for the individual, leading to a slightly positive sentiment.

Positives

• The merger agreement led to the full vesting of two tranches of stock options for the reporting person, which were subsequently assumed by Glacier and replaced with new options.
• The executive received shares of Glacier Bancorp, Inc., a larger entity, in exchange for his Guaranty Bancshares holdings, potentially offering broader market exposure.

Future Outlook

This Form 4 filing is a historical record of a transaction and does not contain forward-looking statements or guidance.

Industry Context

This filing reflects the completion of a merger in the banking sector, where Guaranty Bancshares, Inc. was acquired by Glacier Bancorp, Inc. Such consolidation is a common trend in the financial industry, driven by factors like economies of scale, market expansion, and regulatory pressures. The transaction indicates a strategic move by Glacier to expand its footprint, while Guaranty Bancshares shareholders and executives transition to the acquiring entity.

Stakeholder Impact

• Shareholders of Guaranty Bancshares, Inc. received Glacier Bancorp, Inc. common stock as consideration for their shares.
• Employees, specifically the reporting person, had their stock options in Guaranty Bancshares converted into equivalent options in Glacier Bancorp, Inc., with some tranches becoming fully vested due to the merger.

Key Dates

Keywords

Guaranty Bancshares, Glacier Bancorp, Merger, Form 4, Insider Transaction, Stock Options, Equity Exchange, GNTY, Bank Merger