Form 4: Pinnacle Financial Partners CEO M. Terry Turner Acquires Shares and Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Pinnacle Financial Partners CEO, M. Terry Turner, reports acquisition of shares and changes in beneficial ownership, including restricted stock units vesting over the next three years.
Summary
- On January 23, 2025, M. Terry Turner, CEO of Pinnacle Financial Partners Inc. (PNFP), acquired 7,725 shares of PNFP common stock at a price of $122.34 per share.
- These shares were acquired as part of restricted stock units that will vest in one-third increments on January 31, 2026, January 31, 2027, and January 31, 2028.
- Following the transaction, Turner directly owns 225,856 shares of PNFP common stock.
- Turner also indirectly owns 33,922 shares through a 401K and 22,000 shares through an IRA.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a standard regulatory filing detailing an insider transaction. The acquisition of shares by the CEO could be seen as a positive signal, but it's part of a pre-determined compensation plan.
Positives
- The CEO's acquisition of shares may signal confidence in the company's future performance.
Future Outlook
The document outlines the vesting schedule for restricted stock units, indicating future equity compensation for the CEO.
Industry Context
Insider transactions are closely monitored as they can provide insights into management's perspective on the company's valuation and future prospects. This filing is a routine disclosure required by the SEC.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units as a way to align management's interests with those of shareholders.
- Vesting schedules are common, typically spanning several years to incentivize long-term performance.
- The size of the grant and the vesting schedule would need to be compared to peer companies in the financial services sector to determine if it is in line with industry standards.
Stakeholder Impact
- The transaction could have a minor positive impact on shareholder sentiment if viewed as a sign of confidence from the CEO.
Key Dates
| Date | Description |
|---|---|
| 01/23/2025 | Date of transaction: M. Terry Turner acquired shares of PNFP common stock. |
| 01/31/2025 | Date of signature on the Form 4 filing. |
| 01/31/2026 | First vesting date for one-third of the restricted stock units. |
| 01/31/2027 | Second vesting date for one-third of the restricted stock units. |
| 01/31/2028 | Final vesting date for one-third of the restricted stock units. |
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