Form 4: Pinnacle Financial Partners Director Callicut Reports Tax Withholding Transactions
SEC Form 4 Filing
Richard D. Callicut II, a director at Pinnacle Financial Partners, reports the withholding of shares to cover taxes upon vesting of restricted share units.
Summary
- Richard D. Callicut II, a director at Pinnacle Financial Partners, filed a Form 4 detailing changes in beneficial ownership.
- The transactions involved the withholding of PNFP common stock to cover tax obligations related to the vesting of restricted share units.
- Specifically, 500 shares were withheld on January 18, 2025, 523 shares on January 19, 2025, and 274 shares on January 20, 2025, all at a price of $119.91.
- Following these transactions, Callicut directly owns 82,006 shares of PNFP common stock and 12,000 depositary shares.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, and the transactions are related to standard tax withholding procedures. Therefore, the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The withholding of shares for taxes is a common practice when restricted stock units vest.
Comparison to Industry Standards
- Tracking insider transactions is a common practice in financial analysis.
- Comparable companies would have similar insider transaction reporting.
- The scale of these transactions is typical for executive compensation in financial firms of Pinnacle's size.
Key Dates
| Date | Description |
|---|---|
| 01/19/2023 | Date of restricted share units issued related to tax withholding on 01/19/2025. |
| 01/20/2022 | Date of restricted share units issued related to tax withholding on 01/20/2025. |
| 01/18/2024 | Date of restricted share units issued related to tax withholding on 01/18/2025. |
| 01/18/2025 | Transaction date: 500 shares withheld for taxes. |
| 01/19/2025 | Transaction date: 523 shares withheld for taxes. |
| 01/20/2025 | Transaction date: 274 shares withheld for taxes. |
| 01/21/2025 | Date of signature on the Form 4. |
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