Form 4: Simmons First National Corp Executive David W. Garner Reports Stock Transactions
SEC Form 4 Filing
David W. Garner, EVP and Chief Accounting Officer of Simmons First National Corp, reports the acquisition and disposition of SFNC common stock and derivative securities.
Summary
- On August 23, 2024, David W. Garner, EVP and Chief Accounting Officer of Simmons First National Corp (SFNC), engaged in transactions involving SFNC common stock.
- Garner exercised non-qualified stock options to acquire 3,600 shares at a price of $20.29 per share.
- Concurrently, Garner sold 3,600 shares at a weighted average price of $21.21, with individual sales ranging from $21.20 to $21.22.
- Following these transactions, Garner directly owns 64,966 shares of SFNC common stock and indirectly owns 6,000 shares through a trust for his mother.
- He also holds options for 0 shares.
- The non-qualified stock options were granted on December 31, 2015, became exercisable on August 23, 2024, and expire on December 31, 2024.
- The exercise price of the options was adjusted to $20.29 to reflect a 2-for-1 stock split that occurred on February 8, 2018.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports stock transactions by an executive, which is a routine occurrence.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. These transactions provide transparency into executive compensation and ownership.
Comparison to Industry Standards
- Executive stock option grants and exercises are standard practice in the financial services industry.
- Companies like Bank of America (BAC) and JPMorgan Chase (JPM) also regularly report similar Form 4 filings for their executives.
- The size of the transaction is relatively small compared to the overall market capitalization of Simmons First National Corp.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 12/31/2015 | Date of grant for non-qualified stock options |
| 02/08/2018 | Date of 2-for-1 stock split |
| 08/23/2024 | Date of stock option exercise and sale of shares |
| 08/27/2024 | Date of Form 4 filing |
| 12/31/2024 | Expiration date of non-qualified stock options |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.