Form 4: Insider Sells GNTY Shares in Glacier Merger

Kirk L. Lee, President and Director of Guaranty Bancshares, disposed of all his GNTY common stock holdings as part of the merger with Glacier Bancorp.

Summary

• Kirk L. Lee, President and Director of Guaranty Bancshares, Inc. (GNTY), reported the disposal of his beneficial ownership in GNTY common stock.
• The disposal occurred on October 1, 2025, pursuant to the Plan and Agreement of Merger dated June 24, 2025, with Glacier Bancorp, Inc. and Glacier Bank.
• Lee directly disposed of 125,428 shares of GNTY common stock.
• Lee indirectly, through his IRA, disposed of 121,859 shares of GNTY common stock.
• In exchange, Lee received 125,428 shares of Glacier common stock for his direct holdings and 121,859 shares of Glacier common stock for his indirect holdings.
• The Glacier common stock had a market value of $48.75 per share on the effective date of the merger.

Sentiment

Score: 7

Explanation: The transaction is a mandatory consequence of a merger, indicating a successful strategic event for the company (Guaranty Bancshares) and a conversion of holdings for the insider. It's a neutral to positive event as it signifies the completion of a strategic move.

Positives

• The transaction represents the successful completion of the merger between Guaranty Bancshares and Glacier Bancorp, indicating strategic growth for the combined entity.
• The reporting person received shares in the acquiring company, Glacier Bancorp, which could offer future growth potential.

Negatives

• The reporting person no longer holds direct or indirect beneficial ownership in Guaranty Bancshares, Inc. common stock.

Risks

• The value of the Glacier Bancorp shares received is subject to market fluctuations.
• Integration risks are associated with the merger of Guaranty Bancshares into Glacier Bancorp.

Future Outlook

The merger between Guaranty Bancshares, Inc. and Glacier Bancorp, Inc. has been completed, resulting in the exchange of Guaranty Bancshares stock for Glacier Bancorp stock for former shareholders.

Industry Context

This transaction reflects ongoing consolidation within the banking sector, where smaller regional banks are often acquired by larger institutions to achieve economies of scale, expand market reach, and enhance competitive positioning.

Stakeholder Impact

• Shareholders of Guaranty Bancshares: Their shares have been exchanged for Glacier Bancorp shares as per the merger agreement.
• Kirk L. Lee (Reporting Person): His investment in Guaranty Bancshares has been converted into an investment in Glacier Bancorp.

Key Dates

Keywords

Guaranty Bancshares, GNTY, Glacier Bancorp, Merger, Insider Transaction, Form 4, Kirk L. Lee, Stock Disposal, Banking Sector