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

Director Mark A. Crosswhite acquired phantom stock in Regions Financial Corp in lieu of cash compensation under the company's Director Compensation Program.

Summary

• On April 15, 2024, Mark A. Crosswhite, a director of Regions Financial Corp, acquired 1,625.9105 shares of phantom stock.
• The acquisition was made in lieu of cash compensation payable under Regions' Director Compensation Program.
• The phantom stock was accrued under Regions' Directors' Deferred Investment Plan.
• The price of the phantom stock was $19.22 per share.
• Following the transaction, Crosswhite beneficially owns 10,317.7293 shares of phantom stock.
• The phantom stock is payable in cash in a lump sum or up to 10 annual installments after termination of service as a director.

Sentiment

Score: 7

Explanation: The document indicates a routine transaction related to director compensation, suggesting a neutral to slightly positive sentiment as it reflects alignment of interests between the director and shareholders.

Positives

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

Future Outlook

The phantom stock is 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, such as Bank of America, JP Morgan Chase, and Wells Fargo, utilize stock-based compensation for their directors.
• The specific terms of these compensation plans, such as vesting schedules and payout options, can vary significantly between companies.

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