Form 4: Park National Director Zazworsky Receives Share Award

Park National Corp. Director Leon Zazworsky was awarded 345 common shares as part of the company's long-term incentive plan for non-employee directors.

Summary

• Leon Zazworsky, a Director of Park National Corp. (PRK), acquired 345 common shares on October 27, 2025.
• The shares were awarded at a price of $0, pursuant to the Park National Corporation 2017 Long-Term Incentive Plan for Non-Employee Directors.
• Following this transaction, Zazworsky directly beneficially owns 49,575 common shares.
• He also indirectly holds 100 common shares through a Stifel Nicolaus account for his spouse, Judy Zazworsky, and a proportionate interest of 10.48 common shares in Moundvest Investment Club.
• Zazworsky disclaims beneficial ownership of the 100 common shares held by his spouse.

Sentiment

Score: 6

Explanation: The transaction is a routine equity award to a non-employee director, aligning their interests with shareholders. It reflects standard corporate governance practices.

Positives

• Director Leon Zazworsky received 345 common shares, aligning his interests with those of shareholders.
• The share award was made under an established and approved plan (2017 Long-Term Incentive Plan for Non-Employee Directors), indicating structured and transparent compensation practices.

Future Outlook

The filing does not contain forward-looking statements or guidance.

Industry Context

Routine equity awards to non-employee directors are a common practice across industries to align director incentives with shareholder interests and promote long-term value creation. This transaction is consistent with standard corporate governance practices for publicly traded companies.

Comparison to Industry Standards

• Equity compensation for non-employee directors, often through long-term incentive plans, is a standard practice in U.S. public companies, including financial institutions like Park National Corp.
• This aligns with governance best practices seen in peers such as other regional banks (e.g., Huntington Bancshares, KeyCorp) where directors receive a portion of their compensation in stock or stock units.
• The specific number of shares awarded would typically be determined by the company's compensation committee based on factors like director responsibilities, company performance, and peer group compensation data.

Corporate Governance

Related Party Transactions

• Indirect beneficial ownership of 100 common shares is reported through the spouse's Stifel Nicolaus account, though the reporting person disclaims beneficial ownership.
• Indirect beneficial ownership of 10.48 common shares is reported through a proportionate interest in Moundvest Investment Club.

Stakeholder Impact

• Shareholders: The award of shares to a director aligns the director's financial interests with those of shareholders, potentially encouraging decisions that enhance long-term shareholder value.

Key Dates

Keywords

Park National Corp, PRK, Leon Zazworsky, Director, Insider Transaction, Form 4, Share Award, Equity Compensation, Long-Term Incentive Plan, Non-Employee Director