Form 4: Guaranty Bancshares EVP Disposes Shares in Glacier Merger

Guaranty Bancshares EVP Robert P. Sharp disposed of common stock and stock options in exchange for Glacier Bancorp shares following the merger.

Summary

• Robert P. Sharp, EVP of Guaranty Bank & Trust, reported the disposal of Guaranty Bancshares, Inc. common stock and stock options.
• The disposal occurred on October 1, 2025, as a result of the Plan and Agreement of Merger with Glacier Bancorp, Inc.
• Sharp disposed of 20,643 shares of common stock held directly, 48,899 shares held indirectly through the Robert Patrick Sharp Lifetime Trust, and 32,365 shares held indirectly through his IRA.
• These shares were exchanged for Glacier common stock, valued at $48.75 per share on the merger's effective date.
• A stock option to buy 6,600 shares of Guaranty Bancshares common stock, with an adjusted exercise price of $23.47 per share, was also disposed of.
• This option was assumed by Glacier and replaced with an option to purchase 6,903 shares of Glacier common stock at $23.47 per share.
• The exercise price of the original stock option was adjusted due to 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 completion of a merger and the orderly exchange of securities for an executive, which is a positive and expected outcome for the parties involved. The adjustment of stock options and dividend payment also reflect standard corporate actions during such events.

Positives

• The successful completion of the merger between Guaranty Bancshares, Inc. and Glacier Bancorp, Inc.
• Shareholders of Guaranty Bancshares, including the reporting person, received shares of Glacier common stock in exchange for their holdings, indicating a successful transaction.
• The reporting person's stock options were assumed and replaced by Glacier, maintaining their equity incentive.

Negatives

• No specific negative aspects are detailed, as this Form 4 primarily reports a transaction resulting from a merger.

Risks

• No specific risks are mentioned, as this Form 4 reports a completed transaction.

Future Outlook

The filing does not contain explicit forward-looking statements or guidance, as it reports a completed insider transaction related to a merger.

Industry Context

This filing reflects a common trend of consolidation within the banking industry, where smaller regional banks like Guaranty Bancshares are acquired by larger entities such as Glacier Bancorp to achieve economies of scale, expand market reach, and enhance competitive positioning. Such mergers often lead to changes in executive compensation structures and equity holdings, as evidenced by the exchange of shares and assumption of stock options.

Stakeholder Impact

• Shareholders: Guaranty Bancshares shareholders received Glacier Bancorp shares, indicating a change in their investment holdings.
• Employees (specifically Robert P. Sharp): The reporting person's equity incentives were maintained through the assumption and replacement of stock options by the acquiring company.

Key Dates

Keywords

Guaranty Bancshares, Glacier Bancorp, Merger, SEC Form 4, Insider Trading, Stock Disposal, Equity Exchange, Banking Industry, Robert P. Sharp, Stock Options