Form 4: Regions Financial Corp Director Acquires Phantom Stock in Lieu of Cash Compensation

Director Lee J Styslinger III acquired phantom stock in Regions Financial Corp in lieu of cash compensation under the Director Compensation Program.

Summary

• On April 15, 2024, Lee J Styslinger III, a director of Regions Financial Corp, acquired 1,560.8741 shares of phantom stock.
• This acquisition was made in lieu of cash compensation under Regions' Director Compensation Program.
• The phantom stock was accrued under Regions' Directors' Deferred Investment Plan.
• Each share of phantom stock represents the right to the cash value of one share of Regions' common stock.
• The price of the phantom stock is $19.22 per share.
• Following the transaction, Styslinger directly owns 243,750.9266 shares of Regions Financial Corp common stock, including reinvested dividends in phantom stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The director's acceptance of phantom stock indicates confidence in the company's future, but it's a routine transaction.

Positives

• The director's decision to take phantom stock in lieu of cash demonstrates confidence in the company's future performance.

Future Outlook

Shares of phantom stock are payable in cash in a lump sum or up to 10 annual installments, at the election of the reporting person, within 30 days after the close of the plan year in which the reporting person terminates service as a director.

Industry Context

Director compensation in the form of stock or phantom stock is a common practice in the financial industry to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Many financial institutions use similar deferred compensation plans for directors, often involving stock options or restricted stock units.
• The specifics of these plans vary based on company size, performance, and governance policies.
• Comparing Regions Financial Corp's director compensation structure to peers like Truist, PNC, and US Bancorp would provide a more detailed benchmark.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term performance.

Key Dates