Form 4: S&T Bancorp Executive Vice President Reports Changes in Beneficial Ownership
SEC Form 4
LaDawn D. Yesho, Executive Vice President of S&T Bancorp, reports transactions involving common stock and restricted stock units, resulting in adjustments to her beneficial ownership.
Summary
- On April 1, 2025, LaDawn D. Yesho, Executive Vice President of S&T Bancorp, engaged in transactions involving common stock and restricted stock units (RSUs).
- These transactions included the vesting and conversion of RSUs into common stock, as well as the withholding of shares for tax liabilities.
- Specifically, 3,585 RSUs were converted to common stock at a price of $37.15, and shares were withheld to cover tax obligations.
- The reporting person's direct ownership of common stock increased due to the vesting of RSUs.
- Following these transactions, Yesho directly owns 17,163.7357 shares of common stock and indirectly owns 10,271.9602 shares through a 401K.
- She also holds 1,527 restricted stock units.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It's neutral in tone and reflects routine compensation practices. The sentiment is slightly positive as it indicates the executive's continued investment in the company.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry. It provides transparency regarding the alignment of executive interests with shareholder value.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units, are common across the banking industry.
- Companies like PNC Financial Services and Citizens Financial Group also utilize equity-based compensation to incentivize executives.
- The vesting schedules and performance criteria associated with these RSUs are generally aligned with industry norms for long-term incentive plans.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
- Employees may be indirectly affected through the performance-based criteria associated with the restricted stock units.
Key Dates
| Date | Description |
|---|---|
| April 1, 2022 | Date of grant for performance-based restricted stock units under the Issuer's 2022 Long Term Incentive Plan. |
| January 1, 2022 December 31, 2024 | Performance period for the restricted stock units granted April 1, 2022. |
| April 1, 2023 | Start date for the three equal annual installments vesting of some restricted stock units. |
| April 1, 2024 | Start date for the three equal annual installments vesting of some restricted stock units. |
| March 25, 2025 | Date the Issuer's Compensation Committee determined achievement of applicable performance criteria. |
| April 1, 2025 | Date of transactions involving common stock and restricted stock units; vesting date for restricted performance units awarded on April 1, 2022; start date for the three equal annual installments vesting of some restricted stock units. |
| April 3, 2025 | Date of signature for the report. |
Keywords
Form 4, Beneficial Ownership, S&T Bancorp, STBA, Executive Vice President, LaDawn D. Yesho, Restricted Stock Units, Common Stock, Vesting, Tax Withholding
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