Form 4: Pinnacle Financial Partners Director David Ingram Reports Stock Transactions

Director David Ingram of Pinnacle Financial Partners reports acquiring and disposing of PNFP common stock and depositary shares.

Summary

• On March 1, 2024, David Ingram, a director at Pinnacle Financial Partners, acquired 989 shares of PNFP common stock at a price of $82.72 per share.
• Following this transaction, Ingram directly owns 112,565 shares.
• Ingram also indirectly owns 143,099 shares through the Ingram Trust and 2,000 shares through his spouse.
• Additionally, Ingram disposed of 120,000 depositary shares, each representing a 1/40th interest in Pinnacle's 6.75% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series B.
• The acquired shares have restrictions that lapse on March 1, 2025, based on attendance at Pinnacle Board and Committee meetings.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock transactions by a company director, indicating neutral sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider, which is common in the financial industry to ensure transparency and prevent insider trading.

Comparison to Industry Standards

• Form 4 filings are standard practice for directors and officers of publicly traded companies, as mandated by the SEC.
• Similar filings are made by insiders at comparable financial institutions like Truist Financial (TFC) and Regions Financial (RF), disclosing their transactions in company stock.

Stakeholder Impact

• The transactions may have a minor impact on shareholders as they reflect insider activity, which can be interpreted as a signal of confidence or lack thereof.
• The disposal of depositary shares could affect holders of the preferred stock.

Key Dates