Form 4: Primis Financial CFO Boosts Stake with Stock and RSUs

Primis Financial Corp.'s EVP and CFO, Matthew Alan Switzer, acquired 4,500 shares of common stock and 10,500 performance-based restricted stock units.

Summary

• Matthew Alan Switzer, Executive Vice President and Chief Financial Officer of Primis Financial Corp. (FRST), reported transactions on December 18, 2025.
• Switzer acquired 4,500 shares of common stock, issued as restricted stock, which will vest in three annual installments.
• He also acquired 10,500 performance-based restricted stock units (RSUs) with a vesting and expiration date of March 15, 2028.
• Following these transactions, Switzer beneficially owns a total of 93,726 shares of common stock.
• The common stock holdings include 40,000 shares held jointly with a spouse, 10,000 shares in an irrevocable trust, 20,000 shares in an IRA, 16,976 shares held individually, and 6,750 shares of restricted stock.
• His total beneficial ownership of derivative securities (Performance-Based Restricted Stock Units) is 32,750, including the newly acquired 10,500 units and previously held units vesting on March 15, 2028 (10,000 units), March 15, 2027 (9,000 units), and March 15, 2026 (3,250 units).

Sentiment

Score: 7

Explanation: The acquisition of common stock and restricted stock units by a key executive like the CFO is generally a positive signal, indicating management's confidence in the company's future. This aligns executive interests with shareholder value creation.

Positives

• A key executive, the CFO, is increasing his direct ownership in the company through the acquisition of common stock and performance-based restricted stock units, signaling confidence in future performance.
• The acquisition of restricted stock and RSUs aligns management's interests with those of shareholders, as their value is tied to the company's stock performance and continued employment.

Future Outlook

This Form 4 filing primarily reports an insider transaction and does not contain explicit forward-looking statements or guidance regarding the company's future financial performance or strategic direction. The vesting schedules for the restricted stock and RSUs indicate future dates when these awards will convert to exercisable shares, aligning executive incentives with long-term company performance.

Industry Context

This filing reports an individual insider transaction and does not provide broader industry context or trends. Insider buying, particularly by a CFO, is generally viewed as a positive signal within the financial services industry, suggesting management's belief in the company's valuation and future prospects.

Stakeholder Impact

• Shareholders: The acquisition by the CFO can be interpreted as a positive signal, potentially boosting investor confidence in the company's outlook and management's belief in its intrinsic value.
• Employees: Executive compensation in the form of restricted stock and RSUs is a common practice to incentivize long-term performance and retention.

Next Steps

• The 4,500 shares of restricted stock will vest in three annual installments.
• The 10,500 performance-based restricted stock units will vest on March 15, 2028.
• Other previously granted performance-based restricted stock units will vest on March 15, 2026, March 15, 2027, and March 15, 2028, respectively.

Key Dates

Recommendation

The acquisition of common stock and restricted stock units by a key executive like the CFO signals management confidence in the company's future prospects. While a positive indicator, this single transaction alone does not fundamentally alter the company's financial position or strategic direction to warrant a 'buy' or 'sell' recommendation. It reinforces a 'hold' position for existing investors and provides a positive data point for potential investors to consider alongside broader financial analysis.

Keywords

Primis Financial Corp, FRST, Matthew Alan Switzer, CFO, Insider Transaction, Stock Acquisition, Restricted Stock Units, Executive Compensation, Beneficial Ownership