Form 4: S&T Bancorp Executive Vice President Reports Stock Transactions

Rachel Lynn Smydo, Executive Vice President of S&T Bancorp, reports transactions involving common stock and restricted stock units.

Summary

• On April 1, 2024, Rachel Lynn Smydo, Executive Vice President of S&T Bancorp, engaged in transactions involving the company's common stock and restricted stock units (RSUs).
• Smydo acquired 308 shares of common stock upon the vesting of restricted stock units at a price of $31.89.
• She also acquired 643 shares of common stock upon the vesting of additional restricted stock units at a price of $31.89.
• 86 shares were withheld for payment of tax liability for vested and converted RSUs.
• An additional 185 shares were withheld for payment of tax liability for vested and converted RSUs.
• Smydo was also awarded 2,118 restricted stock units that vest in three equal annual installments beginning April 1, 2025.
• Following these transactions, Smydo directly owns 2,662 shares of common stock and 1,307 restricted stock units that vest in three equal annual installments beginning April 1, 2024.
• She also directly owns 2,118 restricted stock units that vest in three equal annual installments beginning April 1, 2025.
• She also directly owns 320 restricted stock units that vest in three equal annual installments beginning April 1, 2023.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing reflecting standard compensation practices; it doesn't inherently indicate positive or negative sentiment.

Positives

• The vesting of restricted stock units indicates a form of compensation and alignment of the executive's interests with the company's performance.

Future Outlook

The reporting person will receive shares upon vesting of the restricted stock units in the future, according to the vesting schedules.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's securities.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units to align executive interests with shareholder value, a common practice among publicly traded companies.
• Vesting schedules for RSUs typically range from three to five years, which is consistent with the vesting schedule outlined in this filing.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.

Key Dates