Form 4: Pinnacle Financial Partners Executive J. Harvey White Reports Stock Award and Tax Withholding
SEC Form 4 Filing
J. Harvey White, Chief Credit Officer of Pinnacle Financial Partners, reports the vesting of performance units and subsequent tax withholding.
Summary
- On February 28, 2024, J. Harvey White, Chief Credit Officer of Pinnacle Financial Partners, reported transactions related to Pinnacle Financial Partners Inc. [PNFP] common stock.
- Mr. White acquired 9,273 shares of PNFP common stock upon the vesting of performance units, with no purchase price paid.
- These performance units were granted on January 17, 2019, and vested based on the company's performance against certain metrics for 2019, 2020, 2021 and the NPA ratio at December 31, 2023.
- 2,259 shares were then withheld by the company to cover withholding taxes due upon the vesting of the performance units.
- Following these transactions, Mr. White directly owns 46,861 shares and indirectly owns 5,000 shares through an IRA.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard reporting of stock transactions related to executive compensation.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.
Stakeholder Impact
- The vesting of performance units aligns executive compensation with company performance, potentially benefiting shareholders.
Key Dates
| Date | Description |
|---|---|
| 2019-01-17 | Reporting person was granted 14,027 performance units |
| 2023-12-31 | Date for NPA ratio calculation |
| 2024-02-28 | Date of stock acquisition and tax withholding |
| 2024-03-01 | Date of signature |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.