Form 4: Pinnacle Financial Partners Director Reports Share Transactions

Thomas C. Farnsworth III, a director at Pinnacle Financial Partners, reports the acquisition and disposal of company stock and depositary shares.

Summary

• On March 1, 2024, Thomas C. Farnsworth III, a director of Pinnacle Financial Partners, engaged in transactions involving the company's stock.
• He disposed of 239 shares of PNFP Common Stock at a price of $82.72 per share to cover taxes due upon the vesting of restricted share awards.
• Farnsworth also acquired 989 shares of PNFP Common Stock with restrictions that lapse on March 1, 2025, based on attendance at Pinnacle Board and Committee meetings.
• Additionally, he owns 2,000 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, Farnsworth directly owns 26,576 shares of PNFP Common Stock.

Sentiment

Score: 6

Explanation: The document primarily reports routine transactions. The acquisition of restricted shares is a mildly positive signal, while the sale to cover taxes is neutral.

Positives

• The acquisition of 989 restricted shares demonstrates the director's continued investment and alignment with the company's long-term performance.

Future Outlook

The vesting of restricted shares on March 1, 2025, is contingent upon the director's attendance at Pinnacle Board and Committee meetings.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their trading activities. These filings are closely watched by investors seeking insights into management's sentiment and confidence in the company's prospects.

Stakeholder Impact

• The transactions may have a minor impact on shareholders by slightly increasing the number of outstanding shares.

Key Dates