Form 4: Pinnacle Financial Partners Director Reports Changes in Beneficial Ownership

Joseph C. Galante, a director at Pinnacle Financial Partners, filed a Form 4 detailing changes in his beneficial ownership of the company's stock due to tax withholding and vesting of restricted shares.

Summary

• On March 1, 2024, Joseph C. Galante, a director of Pinnacle Financial Partners, reported changes in his beneficial ownership of the company's stock.
• 239 shares were disposed of to cover taxes due upon the vesting of restricted share awards at a price of $82.72.
• 989 shares were acquired with restrictions that lapse on March 1, 2025, based on attendance at Pinnacle Board and Committee meetings.
• Galante also owns 4,000 depositary shares, each representing a 1/40th interest in a share of the Issuer's 6.75% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series B.
• Following these transactions, Galante directly owns 24,168 shares of PNFP Common Stock.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information. The transactions are routine and expected.

Positives

• The acquisition of 989 shares, even with restrictions, indicates continued alignment with the company's performance and governance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity related to vesting of shares and tax obligations, which is common for directors and officers of publicly traded companies.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the transactions of a company director.

Key Dates