Form 4: Pinnacle Financial Partners Inc. Chairman Acquires Shares

Richard D. Callicut II, Chairman of Carolinas & Virginia at Pinnacle Financial Partners Inc., has acquired shares of the company's common stock and depositary shares.

Summary

• Richard D. Callicut II, Chairman of Carolinas & Virginia at Pinnacle Financial Partners Inc., has acquired 4,913 shares of PNFP common stock at a price of $125.66 per share.
• He also acquired 12,000 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.
• The depositary shares were purchased in an underwritten public offering.

Sentiment

Score: 7

Explanation: The document reflects a positive sentiment due to the executive's purchase of shares, indicating confidence in the company. However, it is a routine transaction and not a major event.

Positives

• The acquisition of shares by a high-ranking executive like Richard D. Callicut II can be seen as a positive sign of confidence in the company's future.
• The purchase of both common stock and preferred stock depositary shares indicates a diversified investment approach by the executive.

Industry Context

This type of filing is common in the financial industry, where executives often purchase shares of their own company. It is a routine disclosure required by regulatory bodies.

Comparison to Industry Standards

• Executive share purchases are a common occurrence in the financial sector, with similar filings made by executives at companies like Truist Financial (TFC), Regions Financial (RF), and First Horizon (FHN).
• The size of the purchase is not unusual for an executive at this level, and the price paid is consistent with market prices at the time of the transaction.
• The purchase of preferred stock depositary shares is also a common practice for executives seeking a more stable income stream.

Stakeholder Impact

• The purchase of shares by a high-ranking executive may positively influence investor confidence.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Pinnacle Financial Partners, PNFP, Richard D. Callicut II, common stock, depositary shares, preferred stock, insider trading, executive purchase