Form 4: Pinnacle Financial Partners CEO, M. Terry Turner, Reports Stock Transactions
SEC Form 4 Filing
Pinnacle Financial Partners CEO, M. Terry Turner, sold shares to cover tax obligations related to vesting restricted stock units.
Summary
- M. Terry Turner, CEO of Pinnacle Financial Partners, reported the sale of company stock on January 18, 19 and 20, 2025.
- These sales were to cover tax obligations arising from the vesting of restricted stock units.
- A total of 1,649 shares were sold on January 18, 2025, 1,905 shares on January 19, 2025, and 1,105 shares on January 20, 2025.
- All shares were sold at a price of $119.91 per share.
- Following these transactions, Mr. Turner directly owns 218,131 shares of Pinnacle Financial Partners stock.
- He also indirectly owns 33,922 shares through a 401K and 22,000 shares through an IRA.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and does not indicate any positive or negative sentiment. It is a standard SEC filing.
Industry Context
This is a routine filing related to stock transactions by a company executive, which is common practice in publicly traded companies. It is not unusual for executives to sell shares to cover tax obligations related to vesting equity awards.
Comparison to Industry Standards
- Executive stock sales to cover tax obligations are a common practice across the financial industry.
- Many executives at comparable financial institutions such as Truist Financial (TFC), Regions Financial (RF), and First Horizon (FHN) regularly report similar transactions.
- These transactions are typically viewed as routine and do not necessarily indicate a change in the executive's outlook on the company's future.
Stakeholder Impact
- The stock sales may have a minor impact on the stock price, but are generally considered routine and not indicative of a change in the company's outlook.
Key Dates
| Date | Description |
|---|---|
| 01/18/2024 | Date of restricted share units grant related to the January 18, 2025 transaction. |
| 01/19/2023 | Date of restricted share units grant related to the January 19, 2025 transaction. |
| 01/20/2022 | Date of restricted share units grant related to the January 20, 2025 transaction. |
| 01/18/2025 | Date of first stock sale by M. Terry Turner. |
| 01/19/2025 | Date of second stock sale by M. Terry Turner. |
| 01/20/2025 | Date of third stock sale by M. Terry Turner. |
| 01/21/2025 | Date of filing of the SEC Form 4. |
Keywords
Pinnacle Financial Partners, PNFP, M. Terry Turner, stock sale, insider trading, restricted stock units, tax obligations, CEO
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